Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The table below reflects the diluted weighted-average number of common stock shares outstanding using the treasury stock method:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2012	2011	2012	2011
Weighted-average shares - basic	10,361,849	10,361,849	10,361,849	10,469,056
Effect of dilutive common stock equivalents:
Restricted stock award 1	86,990	—	34,606	—
Weighted-average shares - diluted	10,448,839	10,361,849	10,396,455	10,469,056

¹ Includes 86,990 shares of restricted common stock awarded on June 14, 2012. See Note 12 for additional information.

For the three and nine months ended September 30, 2011, we had 7,077,375 warrants outstanding, all of which were anti-dilutive during that period. Prior to their expiration on October 4, 2011, each warrant could have been exercised for one share of common stock.

The basic and diluted EPS computations are calculated as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Basic EPS:
Net income attributable to common shareholders	$	983	$	3,650	$	8,722	$	4,863
Weighted average shares outstanding	10,361,849		10,361,849		10,361,849		10,469,056
Basic EPS	$	0.09	$	0.35	$	0.84	$	0.46
Diluted EPS:
Net income attributable to common shareholders	$	983	$	3,650	$	8,722	$	4,863
Weighted average shares outstanding	10,361,849		10,361,849		10,361,849		10,469,056
Weighted average dilutive shares	86,990		—		34,606		—
Total Weighted Average Shares	10,448,839		10,361,849		10,396,455		10,469,056
Diluted EPS	$	0.09	$	0.35	$	0.84	$	0.46