Computation of Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2011

Computation of Earnings (Loss) Per Share [Abstract]

Computation of Earnings (Loss) Per Share

(2) Computation of Earnings (Loss) Per Share

The calculation of basic earnings (loss) per common share and diluted earnings (loss) per common share was as follows (in thousands, except per share amounts):

	Second Quarter				Six Months
	2011		2010		2011		2010
Numerator:
Net income (loss)	$	3,358	$	1,980	$	4,071	$	(1,243	)
Denominator:
Denominator for basic earnings (loss) per share—weighted average common shares		15,791		15,703		15,780		15,700
Effect of dilutive stock options		55		60		50		—
Effect of other common stock equivalents		342		361		337		—
Denominator for diluted earnings (loss) per share—adjusted weighted average common shares		16,188		16,124		16,167		15,700
Basic Earnings (Loss) Per Share	$	0.21	$	0.13	$	0.26	$	(0.08	)
Diluted Earnings (Loss) Per Share	$	0.21	$	0.12	$	0.25	$	(0.08	)

For the quarter and six months ended June 30, 2011, respectively, options and other common stock equivalents for 199,689 and 259,586 shares were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive. Due to the net loss for the six months ended June 30, 2010, options and other common stock equivalents of 410,860 shares, which would have been dilutive, were excluded from the calculation of diluted loss per share.