Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2013

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

Note 3 – Earnings (Loss) Per Share

Basic earnings (loss) per share from continuing operations, discontinued operations and from net loss per common share are computed by dividing income (loss) from continuing operations, income (loss) from discontinued operations and net loss, respectively, by the weighted average shares outstanding for the period. Diluted earnings (loss) per share from continuing operations, discontinued operations and from net loss per common share are computed by dividing income (loss) from continuing operations, income (loss) from discontinued operations and net loss, respectively, 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 (loss) 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 June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Income (loss) from continuing operations	$	2,604		$	(1,583	)	$	3,926		$	(3,210	)
Income (loss) from  discontinued operations		(6,738	)		87			(6,605	)		107
Net loss	$	(4,134	)	$	(1,496	)	$	(2,679	)	$	(3,103	)
Weighted average shares – Basic		26,302			25,880			26,228			25,824
Effect of dilutive stock options		52			--			60			--
Adjusted weighted average shares and assumed conversions - Diluted		26,354			25,880			26,288			25,824
Basic:
Income (loss) from continuing operations	$	0.10		$	(0.06	)	$	0.15		$	(0.12	)
Income (loss) from discontinued operations		(0.26	)		--			(0.25	)		--
Net loss per common share	$	(0.16	)	$	(0.06	)	$	(0.10	)	$	(0.12	)
Diluted:
Income (loss) from continuing operations	$	0.10		$	(0.06	)	$	0.15		$	(0.12	)
Income (loss) from discontinued operations		(0.26	)		--			(0.25	)		--
Net loss per common share	$	(0.16	)	$	(0.06	)	$	(0.10	)	$	(0.12	)

Since the Company was in a net loss position for the three and six-month periods ended June 30, 2012, there was no difference between the number of shares used to calculate basic and diluted loss per share for those periods. There were 125 and 137 potentially dilutive stock options not included in the diluted per share calculation for the three and six-month periods ended June 30, 2012, respectively, 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 June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Anti-dilutive options		1,386		1,530		1,475		1,492
Exercise price range	$	11.52 – 21.08	$	11.71 – 21.08	$	11.52 – 21.08	$	11.71 – 21.08