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Loss) Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share

5. Earnings (Loss) Per Share 

 

Basic earnings (loss) per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average numbers of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed similarly to basic earnings (loss) per share, except that the denominator is increased for the assumed exercise of dilutive stock options and unvested restricted stock using the treasury stock method.

    Three Months Ended  Six Months Ended  
    June 30,  June 30,  
    2011  2010  2011  2010  
Weighted average number of shares of Common Stock outstanding — basic    22,799,816   22,625,137   22,755,651   22,615,241  
Effect of dilutive stock options and restricted Common Stock    -   -   455,774   -  
Weighted average number of shares of Common Stock outstanding — diluted    22,799,816   22,625,137   23,211,425   22,615,241  
                
Earnings (loss) per share:              
 Basic $(0.02) $(0.04) $0.05 $(0.07)  
 Diluted $(0.02) $(0.04) $0.05 $(0.07)  

For the six months ended June 30, 2011, the Company did not include stock options to purchase 678,412 shares of the Company's common stock in the calculations of diluted EPS because the exercise prices of those options were greater than the average market price and their inclusion would be anti-dilutive.

 

For the three months ended June 30, 2011 and the three and six months ended June 30, 2010, there was no effect of dilutive stock options and restricted common stock on the calculation of diluted loss per share as the Company reported a net loss for these periods.