Earnings/(Loss) Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 2 – Earnings/(Loss) Per Share

Basic earnings/(loss) per common share is calculated by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per common share is calculated by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (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:

	For the Three Months Ended					For the Six Months Ended
	June 30,					June 30,
(In thousands, except per share data)	2012		2011			2012			2011
Net income (loss)	$	293	$	(233	)	$	(2,743	)	$	(1,316	)
Weighted average shares outstanding - Basic		8,457		8,446			8,457			8,445
Dilutive effect of common stock equivalents		-		-			-			-
Weighted average shares outstanding - Diluted		8,457		8,446			8,457			8,445
Earnings (loss) per common share - Basic	$	0.03	$	(0.03	)	$	(0.32	)	$	(0.16	)
Earnings (loss) per common share - Diluted	$	0.03	$	(0.03	)	$	(0.32	)	$	(0.16	)

The calculations of diluted earnings/(loss) per share for the three and six months ended June 30, 2012 excluded 57 thousand and 37 thousand weighted average common stock equivalents, respectively, because the effect of including them would have been antidilutive. The calculations of diluted earnings/(loss) per share for the three and six months ended June 30, 2011 each excluded 180 thousand weighted average common stock equivalents because the effect of including them would have been antidilutive.