Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Net Income (Loss) per Common Share

Net Income (Loss) per Common Share

Basic net income (loss) per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share incorporates the dilutive effect of common stock equivalent options, warrants and other convertible securities, if any, as determined with the treasury stock accounting method. Common stock equivalents related to options and restricted stock awards for 386,992 and 989,690 shares of common stock for the three months ended September 30, 2012 and 2011, respectively, have been excluded from the fully diluted calculation of net income per share, as inclusion would be anti-dilutive. Common stock equivalents related to options and restricted stock awards for 837,018 shares of common stock for the nine months ended September 30, 2012 have been excluded from the fully diluted calculation of net income per share, as inclusion would be anti-dilutive. The Company has excluded all outstanding stock options and non-vested restricted shares from the calculation of diluted earnings per share for the nine months ended September 30, 2011 because the net loss causes these outstanding stock options and non-vested restricted shares to be anti-dilutive.

A reconciliation of the basic and diluted weighted average common shares outstanding is as follows:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2012	2011	2012	2011
Weighted average common shares outstanding—basic	14,846,249	14,877,481	14,742,855	14,842,746
Dilutive common shares issuable in connection with stock plans	177,331	180,713	228,812	—
Weighted average common shares outstanding—diluted	15,023,580	15,058,194	14,971,667	14,842,746