Basic and Diluted Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2012

Basic and Diluted Income (Loss) Per Common Share [Abstract]

Basic and Diluted Income (Loss) Per Common Share

3.   Basic and Diluted Income (Loss) Per Common Share

Basic income (loss) per share is based on the weighted average number of outstanding common shares for the period.  Diluted income (loss) per share adjusts the weighted average shares outstanding for the potential dilution that could occur if stock options or warrants were exercised into common stock.  The number of common shares and common share equivalents used in the determination of basic and diluted income (loss) per share were as follows:

(in thousands, except for share amounts)	Three Months ended					Six Months ended
	June 30,					June 30,
	2012		2011			2012		2011
Numerator:
Net income (loss)	$	158	$	(244	)	$	688	$	769
Denominator:
Weighted-average shares outstanding for basic earnings per share		18,391,988		19,213,931			18,398,790		19,213,886
Effect of dilutive securities:
Employee stock options		97,702		-			96,903		242,179
Adjusted weighted-average shares outstanding and assumed conversions for diluted earnings per share		18,489,690		19,213,931			18,495,693		19,456,065
Shares related to dilutive securities excluded because inclusion would be anti-dilutive		2,816,873		1,698,596			2,756,624		1,544,504