Earnings Per Share

9 Months Ended

Sep. 30, 2011

13. EARNINGS PER SHARE

Earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares determined for the basic computation plus the dilutive effect of potential common shares that could be issued under outstanding stock options. Stock options for 1,992,671 shares were anti-dilutive for the three months ended September 30, 2011. There were 2,251,575 stock options for shares that were anti-dilutive for the three months ended September 30, 2010. Stock options for 1,992,497 shares were anti-dilutive for the nine months ended September 30, 2011. There were 2,227,827 stock options for shares that were anti-dilutive for the nine months ended September 30, 2010.


	Three Months Ended
	September 30,
	2011			2010
	(Dollars in thousands)
Numerator:
Net loss	$	(8,864	)	$	(9,915	)


Denominator:
Weighted average common shares outstanding—basic		30,953			30,899
Dilutive effect of stock options		—			—

Weighted average common shares outstanding—dilutive		30,953			30,099


Basic loss per share:		(0.29	)		(0.32	)
Dilutive loss per share:		(0.29	)		(0.32	)


	Nine Months Ended
	September 30,
	2011			2010
	(Dollars in thousands)
Numerator:
Net loss	$	(7,698	)	$	(19,942	)


Denominator:
Weighted average common shares outstanding—basic		30,936			30,301
Dilutive effect of stock options		—			—

Weighted average common shares outstanding—dilutive		30,936			30,301


Basic loss per share:		(0.25	)		(0.66	)
Dilutive loss per share:		(0.25	)		(0.66	)