| EARNINGS (LOSS) PER SHARE |
NOTE 5
– 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,
2012 |
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June 30,
2011 |
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June 30,
2012 |
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June 30,
2011 |
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Basic:
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Numerator:
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Net Income
(loss)
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$ |
7,592 |
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$ |
1,835 |
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$ |
14,371 |
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$ |
(5,129 |
) |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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70 |
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19 |
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132 |
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— |
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Net income (loss)
attributable to common shareholders
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$ |
7,522 |
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$ |
1,816 |
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$ |
14,239 |
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$ |
(5,129 |
) |
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Denominator:
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Denominator for basic
earnings (loss) per share-weighted-average shares
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14,388 |
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14,348 |
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14,385 |
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14,346 |
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Basic earnings (loss) per
share—common shareholders
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$ |
0.52 |
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$ |
0.13 |
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$ |
0.99 |
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$ |
(0.36 |
) |
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Diluted:
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Numerator:
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Net Income
(loss)
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$ |
7,592 |
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$ |
1,835 |
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$ |
14,371 |
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$ |
(5,129 |
) |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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70 |
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19 |
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132 |
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— |
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Net income (loss)
attributable to common shareholders
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$ |
7,522 |
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$ |
1,816 |
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$ |
14,239 |
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$ |
(5,129 |
) |
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Denominator:
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Denominator for basic
earnings (loss) per share-weighted-average shares
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14,388 |
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14,348 |
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14,385 |
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14,346 |
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Effect of dilutive
securities:
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Employee stock
options
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21 |
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31 |
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24 |
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— |
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Denominator for dilutive
earnings (loss) per share-weighted-average shares
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14,409 |
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14,379 |
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14,409 |
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14,346 |
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Diluted earnings (loss) per
share—common shareholders
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$ |
0.52 |
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$ |
0.13 |
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$ |
0.99 |
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$ |
(0.36 |
) |
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