EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

8.           EARNINGS PER SHARE

The following table shows the shares used  in computing diluted earnings per share (“EPS”) in accordance with ASC topic No. 260 – Earnings per Share, (in 000’s):

	2012		2011
Diluted earnings per share:      Weighted average shares outstanding		13,063		12,940
Employee and director stock options		-		-
Weighted average shares           assuming dilution		13,063		12,940

Options to purchase 351,000 shares of the Company’s common stock outstanding at December 31, 2012 and options to purchase 520,000 shares of the Company’s common stock at December 31, 2011 were not included in the computation of diluted EPS because their effect was anti-dilutive.

On January 1, 2009 the Company adopted an update to ASC topic No. 260, which requires the inclusion of all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted EPS calculations.  As a result, we have included 820,637 restricted shares in our calculation of basic and diluted EPS for the year ended December 31, 2012.  For the year ended December 31, 2011, we included 700,637 of restricted shares in our calculation of basic and diluted EPS.