Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

NOTE H – Earnings Per Share

We report our earnings per share using the two-class method.  The income or loss per share for each class of common stock is calculated assuming 100% of our earnings or losses are distributed as dividends to each class of common stock based on their contractual rights.

The Common Stock of the Company has a preferential dividend rate of at least 105% of the dividend paid on the Class A Common Stock. The Class A Common Stock, which has ten votes per share as opposed to one vote per share for the Common Stock (on all matters other than the election of directors), may be converted at any time on a one-for-one basis into Common Stock at the option of the holder of the Class A Common Stock.

The following is a reconciliation of the earnings (loss) and number of shares used in calculating the diluted earnings (loss) per share for Common Stock and Class A Common Stock (amounts in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Numerator:
Common:
Distributed earnings	$	-		$	-		$	-		$	-
Undistributed earnings (loss)		(805	)		(508	)		(1,377	)		1,455
Basic		(805	)		(508	)		(1,377	)		1,455
Class A Common earnings (loss)		-			-			-			293
Diluted	$	(805	)	$	(508	)	$	(1,377	)	$	1,748
Class A Common:
Distributed earnings	$	-		$	-		$	-		$	-
Undistributed earnings (loss)		(137	)		(98	)		(235	)		293
	$	(137	)	$	(98	)	$	(235	)	$	293
Denominator:
Common:
Weighted average shares outstanding - basic		18,600			18,060			18,567			17,820
Assumed conversion of Class A Common Stock		-			-			-			3,773
Dilutive options, awards and common stock equivalents		-			-			-			352
Total weighted-average diluted Common Stock		18,600			18,060			18,567			21,945
Class A Common:
Weighted average shares outstanding		3,314			3,673			3,323			3,773

The following details the shares excluded from the denominator in the above computation of diluted earnings (loss) per share because their inclusion would be antidilutive (amounts in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2011	2010	2011	2010
Assumed conversion of Class A Common Stock	3,314	3,673	3,323	-
Dilutive options, awards and common stock equivalents	223	341	237	-
Excluded because of net loss position for period	3,537	4,014	3,560	-
Excluded due to the options' exercise prices being greater than the average market price	796	880	801	886