NET INCOME (LOSS) PER SHARE OF COMMON STOCK

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 12 - NET INCOME (LOSS) PER SHARE OF COMMON STOCK

Net income (loss) per share for the three- and nine-month periods ended September 30, 2012 and 2013 are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2012		2013		2012		2013
Basic income (loss) per share
Net income (loss)	$	2,167,000	$	(76,000)	$	(1,546,000)	$	(4,405,000)
Weighted-average shares outstanding, basic		11,768,000		11,930,000		11,730,000		11,886,000
Basic net income (loss) per share	$	0.18	$	(0.01)	$	(0.13)	$	(0.37)
Diluted (loss) income per share
Net income (loss)	$	2,167,000	$	(76,000)	$	(1,546,000)	$	(4,405,000)
Weighted-average shares outstanding, basic		11,768,000		11,930,000		11,730,000		11,886,000
Dilutive effect of stock options and restricted stock		373,000		-		-		-
Weighted-average shares outstanding, diluted		12,141,000		11,930,000		11,730,000		11,886,000
Diluted net income (loss) per share	$	0.18	$	(0.01)	$	(0.13)	$	(0.37)

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, 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, warrants and vesting of shares of restricted stock and performance shares would have been anti-dilutive. For the three- and nine-month periods ended September 30, 2013, 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 3,197,000 would have been anti-dilutive.