| 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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Nine Months
Ended |
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Sept 30,
2011 |
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Sept 30,
2010 |
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Sept 30,
2011 |
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Sept 30,
2010 |
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Basic:
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Numerator:
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Net Income (loss)
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$ |
1,559 |
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$ |
3,462 |
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$ |
(3,570 |
) |
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$ |
11,399 |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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16 |
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37 |
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— |
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121 |
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Net income (loss)
attributable to common shareholders
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$ |
1,543 |
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$ |
3,425 |
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$ |
(3,570 |
) |
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$ |
11,278 |
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Denominator:
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Denominator for basic
earnings (loss) per share-weighted-average shares
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14,351 |
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14,318 |
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14,347 |
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14,316 |
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Basic earnings (loss) per
share—common shareholders
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$ |
0.11 |
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$ |
0.24 |
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$ |
(0.25 |
) |
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$ |
0.79 |
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Diluted:
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Numerator:
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Net Income (loss)
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$ |
1,559 |
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$ |
3,462 |
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$ |
(3,570 |
) |
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$ |
11,399 |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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16 |
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35 |
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— |
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117 |
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Net income (loss)
attributable to common shareholders
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$ |
1,543 |
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$ |
3,427 |
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$ |
(3,570 |
) |
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$ |
11,282 |
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Denominator:
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Denominator for basic
earnings per share-weighted-average shares
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14,351 |
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14,318 |
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14,347 |
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|
14,316 |
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Effect of dilutive
securities:
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Employee stock
options
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25 |
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2 |
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— |
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9 |
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Denominator for dilutive
earnings (loss) per share-weighted-average shares
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14,376 |
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14,320 |
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14,347 |
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14,325 |
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Diluted earnings (loss) per
share—common shareholders
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$ |
0.11 |
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$ |
0.24 |
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$ |
(0.25 |
) |
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$ |
0.79 |
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