Note 15 - Loss Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Text Block]

NOTE 15 – 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 June 30,					Six Months Ended June 30,
	2012			2011		2012			2011
Numerator:
Net (loss) income	$	(3,486	)	$	598	$	(8,359	)	$	(2,118	)
Denominator:
Denominator for basic loss per share – weighted average shares		10,304			10,306		10,302			10,302
Effect of dilutive securities:
Employee stock options and restricted stock		--			11		--			--
Denominator for diluted loss per share – adjusted weighted average shares and assumed conversions		10,304			10,317		10,302			10,302
Basic per share	$	(0.34	)	$	0.06	$	(0.81	)	$	(0.21	)
Diluted (loss) earnings per share	$	(0.34	)	$	0.06	$	(0.81	)	$	(0.21	)
Weighted average anti-dilutive employee stock options and restricted stock		177			121		175			125