Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

v2.4.0.6
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2011
EARNINGS PER SHARE

15. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

 

     2011     2010      2009  

Basic:

        

Numerator:

        

Net Income (loss)

    $ (1,804 )    $ 13,093       $ 20,804   

Less: Net income attributable to participating securities (unvested restricted stock)

      —          160         238   
  

 

 

    

 

 

     

 

 

  

Net income (loss) attributable to common shareholders

    $ (1,804 )    $ 12,933       $ 20,566   
  

 

 

    

 

 

     

 

 

  

Denominator:

        

Denominator for basic earnings per share-weighted-average shares

      14,351        14,318         14,294   
  

 

 

    

 

 

     

 

 

  

Basic earnings per share—common shareholders

    $ (0.13 )    $ 0.90       $ 1.44   
  

 

 

    

 

 

     

 

 

  

Diluted:

        

Numerator:

        

Net income

    $ (1,804 )    $ 13,093       $ 20,804   

Less: Net income attributable to participating securities (unvested restricted stock)

      —          154         220   
  

 

 

    

 

 

     

 

 

  

Net income attributable to common shareholders

    $ (1,804 )    $ 12,939       $ 20,584   
  

 

 

    

 

 

     

 

 

  

Denominator:

        

Denominator for basic earnings per share-weighted-average shares

      14,351        14,318         14,294   

Effect of dilutive securities:

        

Employee stock options

      —          11         1   
  

 

 

    

 

 

     

 

 

  

Denominator for dilutive earnings per share-weighted-average shares

      14,351        14,329         14,295   
  

 

 

    

 

 

     

 

 

  

Diluted earnings per share—common shareholders

    $ (0.13 )    $ 0.90       $ 1.44