7. Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2012

Notes to Financial Statements

Note 7 - Earnings (Loss) Per Share

(7) Earnings (Loss) Per Share

Earnings (loss) per share for the three-month and nine-month periods ended September 30, 2012 and 2011 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings (loss) per share for the three-month and nine-month periods ended September 30, 2012 and 2011:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
	(In thousands)				(In thousands)
Weighted average number of common shares outstanding during the period used to compute basic earnings (loss) per share		19,495		19,821		19,406		18,794
		$
Incremental common shares attributable to exercise of outstanding options and warrants		6,200		–		4,620		–
Weighted average number of common shares used to compute diluted earnings (loss) per share		25,695		19,821		24,026		18,794
		$

If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings (loss) per share calculation for the three-month and nine-month periods ended September 30, 2011 would have included an additional 2.8 million and 3.0 million shares, respectively, attributable to the exercise of outstanding options and warrants.