Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note 17. Earnings Per Share

A reconciliation of the numerators and denominators for earnings per common share computations for the years ended December 31 is presented below (shares in thousands). The Convertible Preferred Stock is anti-dilutive for all years presented and has not been included in the diluted earnings per share calculation. In addition, options to purchase 464,038 shares, 525,969 shares and 690,769 shares of common stock and 508,320 warrants, 508,320 warrants and 508,320 warrants were outstanding for 2011, 2010 and 2009, respectively, but were not included in the computation of diluted earnings per share because the exercise price was greater than the average market price and, therefore, were anti-dilutive.

	2011			2010			2009
Basic earnings (loss) per share
Net income (loss) for common shareholders	$	(12,584	)	$	(67,727	)	$	(39,889	)
Weighted average common shares outstanding		6,051			6,045			6,036
Basic earnings (loss) per common share	$	(2.08	)	$	(11.20	)	$	(6.61	)
Diluted earnings (loss) per share
Weighted average common shares outstanding		6,051			6,045			6,036
Add dilutive effect of assumed exercised stock options		-			-			-
Add dilutive effect of assumed exercised common stock
warrants		-			-			-
Weighted average common and dilutive potential shares
outstanding		6,051			6,045			6,036
Diluted earnings (loss) per common share	$	(2.08	)	$	(11.20	)	$	(6.61	)