Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

4. Earnings Per Share

Basic earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted earnings per share are calculated using the treasury stock method and includes the effect of all dilutive securities, including stock options, restricted stock and Class B common shares. For those periods in which the Company incurred a net loss, the inclusion of the potentially dilutive shares in the computation of diluted weighted average shares outstanding would have been anti-dilutive to the Company’s loss per share, and, accordingly, all potentially dilutive shares have been excluded from the computation of diluted weighted average shares outstanding in those periods.

For the years ended December 31, 2011 and 2010, 1,447,118 shares and 1,770,305 shares, respectively, issuable upon the exercise of stock options were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive.

A summary of the reconciliation of basic weighted average shares outstanding to diluted weighted average shares outstanding follows:

	Years Ended December 31,
	2011			2010
Weighted average common shares outstanding – basic		94,686,553			25,420,541
Potentially dilutive common stock equivalents
Class B common shares		18,159,504			7,135,018
Stock options		25,000			55,000
Restricted stock		1,420,692			18,769
		19,605,196			7,208,787
		114,291,749			32,629,328
Less anti-dilutive common stock equivalents		(19,605,196	)		(7,208,787	)
Weighted average common shares outstanding – diluted		94,686,553			25,420,541