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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2013
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 2 — EARNINGS PER SHARE

 

The following table presents a reconciliation of basic and diluted earnings per share for the three months ended March 31, 2013 and 2012, as follows:

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2013

 

2012

 

Basic earnings per share calculation:

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,059

)

$

(3,860

)

 

 

 

 

 

 

Weighted average number of common shares outstanding

 

14,267,149

 

13,979,567

 

Basic net loss per share

 

$

(0.35

)

$

(0.28

)

 

 

 

 

 

 

Diluted earnings per share calculation:

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,059

)

$

(3,860

)

 

 

 

 

 

 

Weighted average number of common shares outstanding

 

14,267,149

 

13,979,567

 

Common stock equivalents:

 

 

 

 

 

Stock options and unvested restricted stock units (1)

 

—

 

—

 

Weighted average number of common shares outstanding

 

14,267,149

 

13,979,567

 

Diluted net loss per share

 

$

(0.35

)

$

(0.28

)

 

(1)                   Stock options and unvested restricted stock units granted and outstanding of 953,899 and 465,128 as of March 31, 2013 and 2012, respectively, are excluded from the computation of diluted earnings per share due to the anti-dilutive effect as a result of the Company’s net loss for these respective periods.