| EARNINGS (LOSS) PER SHARE |
NOTE 6
– EARNINGS (LOSS) PER SHARE
The following
table sets forth the computation of basic and diluted earnings
(loss) per share (in thousands, except per share data):
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Three Months
Ended |
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Six Months
Ended |
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June 30,
2011 |
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June 30,
2010 |
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June 30,
2011 |
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June 30,
2010 |
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Basic:
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Numerator:
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Net Income
(loss)
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$ |
1,835 |
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$ |
3,432 |
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$ |
(5,129 |
) |
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$ |
7,937 |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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19 |
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37 |
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— |
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84 |
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Net income (loss)
attributable to common shareholders
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$ |
1,816 |
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$ |
3,395 |
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$ |
(5,129 |
) |
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$ |
7,853 |
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Denominator:
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Denominator for basic
earnings (loss) per share-weighted-average shares
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14,348 |
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14,317 |
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14,346 |
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14,315 |
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Basic earnings (loss) per
share - common shareholders
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$ |
0.13 |
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$ |
0.24 |
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$ |
(0.36 |
) |
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$ |
0.55 |
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Diluted:
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Numerator:
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Net Income
(loss)
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$ |
1,835 |
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$ |
3,432 |
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$ |
(5,129 |
) |
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$ |
7,937 |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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19 |
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35 |
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— |
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82 |
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Net income (loss)
attributable to common shareholders
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$ |
1,816 |
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$ |
3,397 |
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$ |
(5,129 |
) |
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$ |
7,855 |
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Denominator:
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Denominator for basic
earnings per share-weighted-average shares
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14,348 |
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14,317 |
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14,346 |
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14,315 |
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Effect of dilutive
securities:
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Employee stock
options
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31 |
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11 |
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— |
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11 |
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Denominator for dilutive
earnings (loss) per share-weighted-average shares
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14,379 |
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14,328 |
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14,346 |
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14,326 |
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Diluted earnings (loss) per
share - common shareholders
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$ |
0.13 |
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$ |
0.24 |
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$ |
(0.36 |
) |
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$ |
0.55 |
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