Earnings Per Common Share

6 Months Ended

Jun. 30, 2012

Earnings Per Common Share [Abstract]

EARNINGS PER COMMON SHARE

11. EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2012	2011	2012	2011
	In thousands, except per share data
Numerator for basic and diluted earnings per common share -
(Loss) income available to common stockholders:
(Loss) income from continuing operations	($3,173)	$6,177	$16	$6,771
Income from discontinued operations	1,103	196	1,283	281
Net (loss) income	($2,070)	$6,373	$1,299	$7,052
Denominator:
Weighted average shares	10,121	10,303	10,105	10,294
Denominator for basic earnings per common share	10,121	10,303	10,105	10,294
Effect of dilutive securities:
Employee stock options	0	33	18	37
Other stock compensation plans	0	82	71	79
Dilutive potential common shares	0	115	89	116
Denominator for diluted earnings per common share -
adjusted weighted average shares and assumed conversions	10,121	10,418	10,194	10,410
Basic (loss) earnings per share:
Continuing operations	($0.31)	$0.60	$0.00	$0.66
Discontinued operations	0.11	0.02	0.13	0.03
Basic (loss) earnings per common share	($0.20)	$0.62	$0.13	$0.69
Diluted (loss) earnings per share:
Continuing operations	($0.31)	$0.59	$0.00	$0.65
Discontinued operations	0.11	0.02	0.13	0.03
Diluted (loss) earnings per common share	($0.20)	$0.61	$0.13	$0.68
Dividends paid per common share	$0.025	$0.05	$0.05	$0.05

Since the Company incurred a loss applicable to common shareholders in the three months ended June 30, 2012 period, the inclusion of dilutive securities in the calculation of weighted average common shares is anti-dilutive and therefore, there is no difference between basic and diluted earnings per share. Anti-dilutive performance stock awards of approximately 6,000 shares for the six-month period ended June 30, 2012 were not included in the calculation of diluted earnings per share. There were no antidilutive shares for the three and six-month periods ended June 30, 2011.