EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 8—EARNINGS PER SHARE

        The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2011 and 2010:

	2011						2010
	Basic			Diluted			Basic			Diluted
Numerator:
Loss from continuing operations	$	(49,710	)	$	(49,710	)	$	(26,604	)	$	(26,604	)
Income (loss) from discontinued operations, net of tax	$	(9,793	)	$	(9,793	)	$	8,427		$	8,427
Net loss attributable to common shareholders	$	(59,503	)	$	(59,503	)	$	(18,177	)	$	(18,177	)
Denominator:
Weighted average common shares		10,995			10,995			11,014			11,014
Loss per Share:
Loss from continuing operations	$	(4.52	)	$	(4.52	)	$	(2.42	)	$	(2.42	)
Income (loss) from discontinued operations, net of tax	$	(0.89	)	$	(0.89	)	$	0.77		$	0.77
Net loss per common share	$	(5.41	)	$	(5.41	)	$	(1.65	)	$	(1.65	)

        For the years ended December 31, 2011 and 2010, we had losses from continuing operations and as a result, no potentially dilutive securities were included in the denominator for computing dilutive earnings per share because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute all earnings per share amounts. For the years ended December 31, 2011 and 2010, approximately 0.1 million and 0.3 million shares, respectively, related to potentially dilutive securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

        See Note 3 for a full description of outstanding equity awards.

Common Stock Repurchases

        On January 11, 2010, our board of directors authorized the repurchase of up to $10 million of our common stock. During 2010, we purchased 810,922 shares of our common stock for aggregate consideration of $5.7 million. At December 31, 2010, we had approximately $4.3 million remaining in our share repurchase authorization.

        In addition, during the fourth quarter of 2010 we suspended our share repurchase program in lieu of a "Dutch auction" tender offer. The completion of the tender offer was announced on December 23, 2010. During the offer period, which expired on December 17, 2010, we accepted for purchase 312,339 shares of our common stock at a price of $7.75 per share, for an aggregate purchase price of approximately $2.4 million, excluding fees and expenses related to the tender offer.

        We made no stock repurchases in 2011.