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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
10. Earnings Per Share [Abstract]  
Earnings Per Share
(Loss) Earnings Per Share

Basic earnings per share are based on the weighted average number of common shares outstanding during each period. Diluted earnings per share are based on the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents during each period. The exercise price for certain stock options awarded by the Company exceeds the average market price of the Company's common stock. Such stock options are antidilutive and are not included in the computation of (loss) earnings per share. Antidilutive stock options outstanding were 2,128,906, 515,906 and 262,934 at December 31 2011, 2010, and 2009, respectively.

The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS for each fiscal year ended December 31:

 
2011
 
2010
 
2009
Basic EPS computation:
 
 
 
 
 
Numerator:
 
 
 
 
 
Net (loss) income
$
(13,114
)
 
$
21,882

 
$
20,030

 
 
 
 
 
 
Denominator:
 

 
 

 
 

Basic weighted average shares outstanding
26,990,059

 
26,899,373

 
23,577,854

Basic earnings per share
$
(0.49
)
 
$
0.81

 
$
0.85

Diluted EPS computation:
 

 
 

 
 

Total basic weighted average shares outstanding
26,990,059

 
26,899,373

 
23,577,854

Effect of dilutive securities:
 

 
 

 
 

Common stock options
—

 
266,479

 
402,088

Total weighted average shares outstanding assuming dilution
26,990,059

 
27,165,852

 
23,979,943

Diluted earnings per share
$
(0.49
)
 
$
0.81

 
$
0.84