EARNINGS/(LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 17. EARNINGS/(LOSS) PER COMMON SHARE

Basic earnings/(loss) per common share are calculated by dividing net income/(loss) available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per common share are calculated by dividing net income/(loss) available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of stock-based awards and the warrant. There is no dilutive effect on the loss per share during loss periods. The following table provides information relating to the calculation of earnings/(loss) per common share.

(In thousands, except per share data)	2011			2010			2009
Net (loss) income	$	(897	)	$	(1,667	)	$	5,397
Weighted average shares outstanding – basic		8,451			8,442			8,414
Dilutive effect of stock-based awards and warrant		-			-			3
Weighted average shares outstanding – diluted		8,451			8,442			8,417
(Loss) earnings per common share – basic	$	(0.11	)	$	(0.20	)	$	0.64
(Loss) earnings per common share – diluted	$	(0.11	)	$	(0.20	)	$	0.64

The calculations of diluted earnings/(loss) per share excluded weighted average stock-based awards of 7,201 for 2011, 8,626 for 2010 and 438 for 2009 and that portion of a warrant to purchase weighted average shares of common stock of 152 thousand for 2011, 173 thousand for 2010 and 169 thousand for 2009 because the effect of including them would have been antidilutive.