Note 5 - Earnings Per Common Share

3 Months Ended

Sep. 30, 2011

Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table Text Block]

5.  EARNINGS PER COMMON SHARE

Basic earnings per common share (“EPS”) is computed by dividing net income (after deducting dividends on preferred stock) by the weighted-average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to common shareholders by the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Stock options, restricted common shares and warrants can be dilutive common shares and are therefore considered in the earnings per share calculation, if dilutive.  Stock options, restricted common shares and warrants that are antidilutive are excluded from earnings per share calculation.  Stock options, restricted common shares and warrants are antidilutive when the exercise price is higher than the current market price of the Company’s common stock. For the three months ended September 30, 2011 and 2010, there were 1,231,972 and 1,700,989 antidilutive stock options, respectively.  For the nine months ended September 30, 2011 and 2010, there were 1,233,180 and 1,790,307 antidilutive stock options, respectively.  The number of potentially dilutive common shares is determined using the treasury stock method.

	As of and for the Three Months				As of and for the Nine Months
	Ended September 30,				Ended September 30,
	2011		2010		2011		2010
	(In thousands, except per share amounts)
Net income (loss) available to common shareholders	$	1,668	$	32	$	4,947	$	(4,462	)
Weighted average common shares in basic EPS		13,145		12,329		13,141		11,712
Effect of dilutive securities		89		16		75		—
Weighted average common and potentially dilutive common shares used in diluted EPS		13,234		12,345		13,216		11,712
Earnings (loss) per common share:
Basic	$	0.13	$	0.00	$	0.38	$	(0.38	)
Diluted	$	0.13	$	0.00	$	0.37	$	(0.38	)