EARNINGS/(LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 16. EARNINGS/(LOSS) PER COMMON SHARE

Basic earnings/(loss) per common share is 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 is 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 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.

(In thousands, except per share data)	2012			2011			2010
Net loss	$	(9,638	)	$	(897	)	$	(1,667	)
Weighted average shares outstanding – basic		8,457			8,451			8,442
Dilutive effect of common stock equivalents		-			-			-
Weighted average shares outstanding – diluted		8,457			8,451			8,442
Loss per common share – basic	$	(1.14	)	$	(0.11	)	$	(0.20	)
Loss per common share – diluted	$	(1.14	)	$	(0.11	)	$	(0.20	)

The calculations of diluted loss per share excluded weighted average common stock equivalents of 46 thousand for 2012, 159 thousand for 2011 and 182 thousand for 2010 because the effect of including them would have been antidilutive.