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NET LOSS PER SHARE OF COMMON STOCK
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

NOTE 12 - NET LOSS PER SHARE OF COMMON STOCK

 

Net loss per share for the three- and nine-month periods ended September 30, 2011 and 2012 are as follows:

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2011     2012     2011     2012  
Basic income (loss) per share                                
Net (loss) income   $ (214,000 )   $ 2,167,000     $ (4,022,000 )   $ (1,546,000 )
                                 
Weighted-average shares outstanding, basic     11,173,000       11,768,000       10,969,000       11,730,000  
                                 
Basic net (loss) income per share   $ (0.02 )   $ 0.18     $ (0.37 )   $ (0.13 )
                                 
Diluted income (loss) per share                                
Net (loss) income   $ (214,000 )   $ 2,167,000     $ (4,022,000 )   $ (1,546,000 )
                                 
Weighted-average shares outstanding, basic     11,173,000       11,768,000       10,969,000       11,730,000  
                                 
Dilutive effect of stock options and restricted stock     -       373,000       -       -  
                                 
Weighted-average shares outstanding, diluted     11,173,000       12,141,000       10,969,000       11,730,000  
                                 
Diluted net (loss) income per share   $ (0.02 )   $ 0.18     $ (0.37 )   $ (0.13 )

 

Basic loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution assuming common shares were issued upon the exercise of outstanding options and the proceeds thereof were used to purchase outstanding common shares. Dilutive potential common shares include outstanding stock options, warrants and restricted stock and performance shares awards. For the three- and nine-month periods ended September 30, 2011, the basic and diluted weighted-average shares outstanding are the same, since the effect from the potential exercise of outstanding stock options, warrants and vesting of restricted stock and performance shares of 3,652,000 would have been anti-dilutive. For the three- and nine-month periods ended September 30, 2012, 1,953,000 and 3,097,000, respectively, outstanding stock options, warrants and shares of restricted stock and performance shares were excluded from the computation of diluted earnings per share since the effect from the potential exercise of outstanding stock options and vesting of shares of restricted stock would have been anti-dilutive.