Earnings Per Share

9 Months Ended

Sep. 30, 2011

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 September 30,				Nine Months Ended September 30,
	2011		2010		2011			2010
Numerator:
Common:
Distributed earnings	$	-	$	-	$	-		$	-
Undistributed earnings (loss)		101		1,011		(1,277	)		2,462
Basic		101		1,011		(1,277	)		2,462
Class A Common earnings (loss)		17		176		-			473
Diluted	$	118	$	1,187	$	(1,277	)	$	2,935

Class A Common:
Distributed earnings	$	-	$	-	$	-		$	-
Undistributed earnings (loss)		17		176		(217	)		473
	$	17	$	176	$	(217	)	$	473

Denominator:
Common:
Weighted average shares outstanding - basic		18,666		18,472		18,600			18,040
Assumed conversion of Class A Common Stock		3,283		3,371		-			3,637
Dilutive options, awards and common stock equivalents		213		170		-			278

Total weighted-average diluted Common Stock		22,162		22,013		18,600			21,955

Class A Common:
Weighted average shares outstanding		3,283		3,371		3,309			3,637

Antidilutive shares excluded from the denominator:
Excluded due to the options' exercise prices being greater than the average market price		788		1,203		797			882

Also excluded from the denominator for the nine months ended September 30, 2011, because of the net loss for that period, is the assumed conversion of the Class A Common Stock, dilutive options, awards and common stock equivalents totaling approximately 3,536,000 shares.