Earnings Per Share

9 Months Ended

Sep. 30, 2011

Basic (loss) earnings per share are based on the weighted average number of common shares outstanding during each period. Diluted earnings per share is based on the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents during each period. For the three and nine months ended September 30, 2011, no potential common stock equivalents were included as the effect of such would be anti-dilutive.

The following table reconciles the denominators used in the computations of both basic and diluted (loss) earnings per share:



	Three months ended September 30,		Nine months ended September 30,
	2011	2010	2011	2010
Basic:
Weighted average shares outstanding	26,909,559	26,899,591	26,946,482	26,883,815
Diluted:
Total basic weighted average shares outstanding	26,909,559	26,899,591	26,946,482	26,883,815
Effect of dilutive securities:
Common stock options	—	194,735	—	282,172
Total weighted average shares outstanding assuming dilution	26,909,559	27,094,326	26,946,482	27,165,987
Anti-dilutive stock options	2,132,469	539,351	2,132,469	283,340
Share of Common Stock issued from the Exercise of Stock Options	1,433	224	32,123	55,964