Income (Loss) per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

12. Income (Loss) per Share

The following table sets forth the reconciliation of the numerators and denominators of the basic and diluted per share computations for continuing operations for the years ended December 31:

	2011		2010			2009
	(dollars in thousands, except shares)
Numerator:
Net income (loss)	$	2,386	$	(1,758	)	$	(3,099	)
Denominator:
Basic EPS:
Common shares outstanding, beginning of period		4,771,658		4,771,658			4,771,658
Weighted average common shares issued during the period		230,276		—			—
Denominator for basic earnings per common shares —
Weighted average common shares		5,001,934		4,771,658			4,771,658
Diluted EPS:
Common shares outstanding, beginning of period		4,771,658		4,771,658			4,771,658
Weighted average common shares issued during the period		230,276		—			—
Denominator for diluted earnings per common shares -
Weighted average common shares		5,001,934		4,771,658			4,771,658

Not included in the computation of earnings per share, assuming dilution for the year ended December, 2011, were options to purchase 797,437 shares of the Company’s common stock. These potentially dilutive items were excluded even though the average market price of the common stock exceeded the exercise prices for a portion of the options because the calculation of incremental shares resulted in an anti-dilutive effect.

Not included in the computation of earnings per share-assuming dilution for the year ended December 31, 2010 were options to purchase 878,986 shares of the Company’s common stock and warrants to purchase 378,472 shares of the Company’s stock. These potentially dilutive items were excluded because the Company incurred a loss for this period and their inclusion would be anti-dilutive.

Not included in the computation of earnings per share-assuming dilution for the year ended December 31, 2009 were options to purchase 716,403 shares of the Company’s common stock and warrants to purchase 378,472 shares of the Company’s stock. These potentially dilutive items were excluded because the Company incurred a loss for this period and their inclusion would be anti-dilutive.