Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

5.Earnings Per Share

The consolidated financial statements for all prior periods have been retroactively adjusted to reflect the April 11, 2013 one-for-ten reverse stock split of the Company’s common stock.

	Three months ended September 30,				Nine months ended                      September 30,
		2013		2012		2013		2012
	(Dollars in thousands, except per share amounts; shares in thousands)				(Dollars in thousands, except per share amounts; shares in thousands
Income (loss) from continuing operations available to common stockholders for basic and diluted earnings per share	$	(5,999)	$	(1,037)	$	(2,651)	$	3,996
Basic weighted-average shares		9,936		9,825		9,928		9,838
Effect of dilutive securities:
Stock options		-		-		-		111
Dilutive weighted-average shares		9,936		9,825		9,928		9,949
Earnings (loss) per common share from continuing operations:
Basic	$	(0.60)	$	(0.11)	$	(0.26)	$	0.41
Diluted	$	(0.60)	$	(0.11)	$	(0.26)	$	0.40

The table below includes information related to stock options, warrants and restricted stock that were outstanding at September 30 of each respective year but have been excluded from the computation of weighted-average stock options due to the option exercise price exceeding the quarter weighted-average market price of our common shares as their inclusion would have been anti-dilutive to our income (loss) per share.

	September 30,        2013		September 30,        2012
Options, warrants and restricted stock excluded (in thousands)		2,388		2,076
Weighted-average exercise prices of options, warrants and restricted stock excluded	$	29.96	$	29.30
Nine- month average market price	$	5.40	$	8.70