Earnings/(Loss) Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings/(Loss) Per Share

4. Earnings/(Loss) Per Share

Basic earnings/(loss) per share is calculated by dividing net income/(loss) by weighted-average common shares outstanding. Diluted earnings/(loss) per share is calculated similarly, except that it includes the dilutive effect of the assumed exercise of equity based awards under the Company's stock incentive plans. Dilutive securities, which include stock options and restricted stock, are determined under the treasury stock method by calculating the assumed proceeds available to repurchase stock using the weighted-average shares outstanding for the period. Stock options and restricted stock outstanding as of September 30, 2011 and 2010 in an aggregate amount of 2,409,000 and 2,494,000, respectively, have been excluded from the diluted per share calculation as the impact would be antidilutive. All stock options and restricted stock outstanding for the nine months ended September 30, 2011 have been excluded from the diluted per share calculation as the impact would be antidilutive. The shares used to calculate basic and diluted earnings/(loss) per common share consists of the following:

	Three Months Ended		Nine Months Ended
	September 30, 2011	September 30, 2010	September 30, 2011	September 30, 2010
Weighted-average common shares outstanding - basic	18,192,000	18,215,000	18,242,000	18,151,000
Effect of dilutive securities:
Restricted stock and employee stock purchase plan	42,000	99,000	--	162,000
Stock options	271,000	223,000	--	200,000
Weighted-average common shares outstanding - diluted	18,505,000	18,537,000	18,242,000	18,513,000