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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2013
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share
Note 3 – Earnings (Loss) Per Share

Basic earnings per share are computed by dividing net income (loss) by the weighted average shares outstanding for the period. Diluted earnings per share are computed by dividing net income (loss) by the weighted average number of common shares, including common stock equivalent shares (stock options and stock-settled stock appreciation rights) outstanding for the period. Certain share-based payment awards which entitle holders to receive non-forfeitable dividends before vesting are considered participating securities and are included in the calculation of basic earnings per share. There were no reconciling items to net income to arrive at income (loss) available to common stockholders.

The following table details the computation of basic and diluted earnings (loss) per common share:

 
Three Months Ended
March 31,
 
 
2013
 
 
2012
 
 
 
 
 
 
 
Net income (loss)
 
$
1,455
 
 
$
(1,607
)
 
 
 
 
 
 
 
 
Weighted average shares – Basic
 
 
26,154
 
 
 
25,767
 
Effect of dilutive stock options
 
 
70
 
 
 
--
 
Adjusted weighted average shares and assumed conversions - Diluted
 
 
26,224
 
 
 
25,767
 
 
 
 
 
 
 
 
 
Basic earnings (loss) per common share
 
$
0.06
 
 
$
(0.06
)
Diluted earnings (loss) per common share
 
$
0.06
 
 
$
(0.06
)

Since the Company was in a net loss position for the three month period ended March 31, 2012, there was no difference between the number of shares used to calculate basic and diluted loss per share for that period. There were 149 potentially dilutive stock options not included in the diluted per share calculation for the three month period ended March 31, 2012, because they would be anti-dilutive. In addition, the following table presents the potentially dilutive outstanding stock options excluded from the computation of diluted earnings per share for each period because they would be anti-dilutive:

 
Three Months Ended
March 31,
 
 
2013
 
 
2012
 
 
 
 
 
 
 
Anti-dilutive options
 
 
1,550
 
 
 
1,416
 
Exercise price range
 
$
11.71-21.08
 
 
$
11.71-21.08