Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings (Loss) Per Share

Basic earnings (loss) 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 earnings (loss) per share. During the three months ended June 30, 2013, incremental shares related to 1,344,211 common stock equivalents were included the computation of diluted earnings per share. In the three months ended June 30, 2012 as well as in the six month periods ended June 30, 2013 and 2012, 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 per share:

	Three months ended June 30,		Six months ended June 30,
	2013	2012	2013	2012
Basic:
Weighted average shares outstanding	27,270,367	27,121,417	27,250,268	27,120,593
Diluted:
Total basic weighted average shares outstanding	27,270,367	27,121,417	27,250,268	27,120,593
Effect of dilutive securities:
Common stock options	330,294	—	—	—
Total weighted average shares outstanding assuming dilution	27,600,661	27,121,417	27,250,268	27,120,593
Anti-dilutive stock options	784,294	2,370,696	2,128,505	2,370,696
Shares of common stock issued from the exercise of stock options	63,134	—	97,100	2,226