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Loss per common share
9 Months Ended
Sep. 30, 2011
Loss per common share [Abstract] 
Loss per common share
5.  Loss per common share

Basic and diluted loss per common share was computed as follows:

   
(in thousands, except per-share amounts)
 
   
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
   
2011
   
2010
   
2011
   
2010
 
Numerator:
                         
   Net loss
 
$
(13,668
)
 
$
(2,281
)
 
$
(24,910
)
 
$
(10,431
)
                                 
Denominator:
                               
   Basic-weighted average shares
   
17,663
     
17,384
     
17,557
     
17,223
 
   Effect of dilutive stock options
   
-
     
-
     
-
     
-
 
   Diluted-weighted average shares
   
17,663
     
17,384
     
17,557
     
17,223
 
                                 
Basic loss per common share
 
$
(0.77
)
 
$
(0.13
)
 
$
(1.42
)
 
$
(0.61
)
Diluted loss per common share
 
$
(0.77
)
 
$
(0.13
)
 
$
(1.42
)
 
$
(0.61
)


 
For the three months ended September 30, 2011 and 2010, options totaling 452,000 and 554,000, respectively, were outstanding, but were not included in the calculation of diluted weighted average shares as their exercise prices were greater than the average market price of the common shares.  For the nine months ended September 30, 2011 and 2010, options totaling 443,000 and 552,000, respectively, were outstanding but were not included in the calculation of diluted weighted average shares as their exercise prices were greater than the average market price of the common shares.  As of September 30, 2011, the Company has granted 366,000 deferred stock units which have a contractual participation right to share in current earnings and voting rights. These deferred stock units are included in basic weighted average shares outstanding.