Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (or loss) by the weighted average number of shares of common stock outstanding during the year. Diluted earnings (loss) per share reflects the potential dilution that could occur if options, warrants and restricted stock units to purchase common stock were exercised or converted. For purposes of this calculation, outstanding stock options, stock warrants and restricted stock units are considered common stock equivalents using the treasury stock method, and are the only such equivalents outstanding.  

For the year ended December 31, 2011, options to purchase approximately 2.0 million shares of commons stock, warrants to purchase approximately 475,000 shares of common stock, and approximately 15,000 unvested restricted stock units were excluded from the calculation as their impact would be anti-dilutive.

The following table details the reconciliation of basic earnings (loss) per share to diluted earnings (loss) per share (amounts in thousands except per share amounts):

	2011			2010
Numerator:
Net income (loss) for basic earnings per share	$	(7,237	)	$	486
Less:
Change in fair value of warrant derivative liability	—			18
Net income for diluted earnings (loss) per share	$	(7,237	)	$	468
Denominator:
Weighted-average basic common shares outstanding	17,005			16,550
Assumed conversion of dilutive securities:
Stock options	—			271
Warrants	—			355
Restricted stock units	—			—
Potentially dilutive common shares	—			626
Denominator for diluted earnings (loss) per share – Adjusted weighted-average shares	17,005			17,176
Earnings (loss) per common share:
Basic	$	(0.43	)	$	0.03
Diluted	$	(0.43	)	$	0.03