Income (loss) per Share of Common Stock

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Income (loss) per Share of Common Stock

Income Per Share of Common Stock

Basic income per common share is computed by dividing net income by the weighted average number of common stock shares outstanding during the period. Diluted income per share reflects the potential dilution that could occur if common stock equivalents, such as stock options outstanding, were exercised into common stock that subsequently shared in the earnings of the Company.

As of March 31, 2013 and 2012, the Company had no common stock equivalents. The computation of the weighted average number of common stock shares outstanding excludes 2,362,418 shares of treasury stock for both of the three months ended March 31, 2013 and 2012.