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INCOME PER COMMON SHARE
 12 Months Ended
Dec. 31, 2011
INCOME PER COMMON SHARE [Abstract]  
INCOME PER COMMON SHARE
17.
INCOME PER COMMON SHARE

Income per common share is calculated for the years ended December 31, 2011, 2010 and 2009 as follows:

(thousands except per share data)
 
2011
  
2010
  
2009
 
Income (loss) from continuing operations
 $8,470  $1,226  $(5,443)
Income (loss) from discontinued operations
  -   -   922 
Net income (loss) for basic and diluted per share calculation
 $8,470  $1,226  $(4,521)
              
Weighted average common shares outstanding – basic
  9,757   9,351   9,198 
Effect of potentially dilutive securities
  399   512   - 
Weighted average common shares outstanding – diluted
  10,156   9,863   9,198 
              
Basic net income (loss) per share:
            
Continuing operations
 $0.87  $0.13  $(0.59)
Discontinued operations
  -   -   0.10 
Net income (loss)
 $0.87  $0.13  $(0.49)
              
Diluted net income (loss) per share:
            
Continuing operations
 $0.83  $0.12  $(0.59)
Discontinued operations
  -   -   0.10 
Net income (loss)
 $0.83  $0.12  $(0.49)

For the year ended December 31, 2009, there is no difference in basic and diluted earnings per share since a net loss was recorded in this period, resulting in all common stock equivalents having no dilutive effect.  Approximately 132,200 shares related to stock options and 192,900 shares related to stock warrants were excluded from diluted earnings per share in 2009 because of their anti-dilutive effect.