Basic and Diluted Earnings Per Common Share

12 Months Ended

Dec. 31, 2012

Basic and Diluted Earnings Per Common Share [Abstract]

Basic and Diluted Earnings Per Common Share

18. Basic and Diluted Earnings Per Common Share

Basic and diluted earnings per common share are calculated based on the weighted average number of shares outstanding during the period. The Company's employee and director stock option awards, as well as incremental shares issuable upon exercise of warrants, are not considered in the calculations if the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Year Ended December 31,
	2012		2011
Numerator:
Earnings from continuing operations	$	3,189	$	2,471
Denominator:
Weighted average basic shares outstanding		5,907		5,907
Effect of dilutive securities - equity based compensation plans		6		-
Net dilutive effect of warrants outstanding		-		42
Denominator for diluted earnings per common share		5,913		5,949
Earnings from continuing operations per common share:
Basic	$	0.54	$	0.42
Diluted	$	0.54	$	0.42
Anti-dilutive securities (excluded from per share calculation):
Equity based compensation plans		118		112
Warrants		640		410