Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 7 - Earnings Per Share

The calculation of basic and diluted earnings per share, including the effect of dilutive securities is as follows:

(in thousands, except per share data)

	Year Ended December 31, 2012		Year Ended December 31, 2011
Net income (loss)	$	145,929	$	(1,893	)
Weighted average common shares outstanding		43,250		43,075
Assumed dilutive effect of stock option exercise(s)		-		-
Weighted average common shares outstanding assuming dilution		43,250		43,075
Net income (loss) per common share - basic	$	3.37	$	(0.04	)
Net income (loss) per common share - assuming dilution	$	3.37	$	(0.04	)

Options to purchase shares of common stock which were excluded from the computation of diluted earnings per share due to the effect of being antidilutive in the computation of earnings per share were as follows:

(in thousands)	December 31, 2012		December 31, 2011
Option shares		-		816