Note 14 - Loss per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

NOTE 14 – LOSS PER SHARE

Basic loss per share is computed based on the weighted average number of shares of Common Stock outstanding during the period.  Diluted loss per share is computed by adjusting the weighted average number of shares of Common Stock outstanding by Common Stock equivalents attributable to dilutive stock options and restricted stock.  The computation of diluted loss per share does not assume conversion, exercise, or contingent issuance of securities that would have an antidilutive effect on loss per share.

The following table sets forth the computation of basic and diluted loss per share:

	(in thousands, except per share amounts)
	Three Months Ended
	March 31,
	2012			2011
Numerator:
Net loss	$	(4,873	)	$	(2,716	)
Denominator:
Denominator for basic loss per share – weighted average shares		10,300			10,298
Effect of dilutive securities:
Employee stock options and restricted stock		--			--
Denominator for diluted loss per share – adjusted weighted average shares and assumed conversions		10,300			10,298
Basic loss per share	$	(0.47	)	$	(0.26	)
Diluted loss per share	$	(0.47	)	$	(0.26	)
Weighted average anti-dilutive employee stock options and restricted stock		177			129