EARNINGS PER SHARE

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2013 and 2012, as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2013			2012			2013			2012
Basic earnings per share calculation:
Net loss	$	(2,491	)	$	(3,938	)	$	(7,703	)	$	(12,029	)
Weighted average number of common shares outstanding	14,524,522			14,093,122			14,405,498			14,021,563
Basic net loss per share	$	(0.17	)	$	(0.28	)	$	(0.53	)	$	(0.86	)
Diluted earnings per share calculation:
Net loss	$	(2,491	)	$	(3,938	)	$	(7,703	)	$	(12,029	)
Weighted average number of common shares outstanding	14,524,522			14,093,122			14,405,498			14,021,563
Common stock equivalents:
Stock options and unvested restricted stock units (1)	—			—			—			—
Weighted average number of common shares outstanding	14,524,522			14,093,122			14,405,498			14,021,563
Diluted net loss per share	$	(0.17	)	$	(0.28	)	$	(0.53	)	$	(0.86	)

(1) Stock options and unvested restricted stock units granted and outstanding of 974,296 and 1,064,525 as of September 30, 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.