Basic and Diluted Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2012

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

Basic and Diluted Income (Loss) Per Common Share

3.   Basic and Diluted Income Per Common Share

Basic income per share is based on the weighted average number of outstanding common shares for the period.  Diluted income 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 per share were as follows:

(in thousands, except for share amounts)	Three Months ended				Nine Months ended
	September 30,				September 30,
	2012		2011		2012		2011
Numerator:
Net income	$	816	$	858	$	1,504	$	1,627
Denominator:
Weighted-average shares outstanding for
basic earnings per share		18,390,034		18,879,757		18,370,907		19,101,284
Effect of dilutive securities:
Employee stock options		69,900		112,841		112,235		202,913
Adjusted weighted-average shares outstanding and
assumed conversions for diluted earnings per share		18,459,934		18,992,598		18,483,142		19,304,197
Shares related to dilutive securities excluded because inclusion would be anti-dilutive		2,847,203		1,573,896		2,799,268		1,544,504