| Computation of Basic and Diluted 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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September 30,
2012 |
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September 30,
2011 |
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September 30,
2012 |
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September 30,
2011 |
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Basic:
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Numerator:
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Net Income
(loss)
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$ |
(10,372 |
) |
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$ |
1,559 |
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$ |
3,999 |
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$ |
(3,570 |
) |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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— |
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16 |
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34 |
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— |
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Net income (loss)
attributable to common shareholders
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$ |
(10,372 |
) |
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$ |
1,543 |
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$ |
3,965 |
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$ |
(3,570 |
) |
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Denominator:
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Denominator for basic
earnings (loss) per share-weighted-average shares
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14,408 |
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14,351 |
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14,393 |
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14,347 |
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Basic earnings (loss) per
share - common shareholders
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$ |
(0.72 |
) |
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$ |
0.11 |
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$ |
0.28 |
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$ |
(0.25 |
) |
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Diluted:
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Numerator:
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Net Income
(loss)
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$ |
(10,372 |
) |
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$ |
1,559 |
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$ |
3,999 |
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$ |
(3,570 |
) |
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Less: Net income
attributable to participating securities (unvested restricted
stock)
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— |
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16 |
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34 |
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— |
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Net income (loss)
attributable to common shareholders
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$ |
(10,372 |
) |
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$ |
1,543 |
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$ |
3,965 |
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$ |
(3,570 |
) |
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Denominator:
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Denominator for basic
earnings (loss)per share-weighted-average shares
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14,408 |
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14,351 |
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14,393 |
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14,347 |
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Effect of dilutive
securities:
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Employee stock
options
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— |
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25 |
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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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14,408 |
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14,376 |
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14,417 |
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14,347 |
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Diluted earnings (loss) per
share - common shareholders
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$ |
(0.72 |
) |
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$ |
0.11 |
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$ |
0.28 |
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$ |
(0.25 |
) |
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