Income (loss) per common share

6 Months Ended

Jun. 30, 2012

Income (loss) per common share [Abstract]

Income (loss) per common share

5.    Income (loss) per common share

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

	(in thousands, except per share amounts)
	Three Months Ended June 30,					Six Months Ended June 30,
	2012		2011			2012			2011
Numerator:
Net income (loss)	$	1,071	$	(3,305	)	$	(4,578	)	$	(11,242	)
Denominator:
Basic-weighted average shares		17,872		17,534			17,799			17,490
Effect of dilutive stock options		-		-			-			-
Diluted-weighted average shares		17,872		17,534			17,799			17,490
Basic income (loss) per common share	$	0.06	$	(0.19	)	$	(0.26	)	$	(0.64	)
Diluted income (loss) per common share	$	0.06	$	(0.19	)	$	(0.26	)	$	(0.64	)

During the three months ended June 30, 2012 and 2011, options totaling 400,000 and 443,000 shares, respectively, were outstanding but were not included in the calculation of diluted weighted average shares, as their effect would be anti-dilutive.  During the six months ended June 30, 2012 and 2011, options totaling 381,000 and 479,000 shares, respectively, were not included in the calculation of diluted weighted average share, as their effect would be anti-dilutive.  As of June 30, 2012 and 2011, the Company has outstanding 527,000 and 390,000 deferred stock units, respectively, which have a contractual participation right to share in current dividends and voting rights.  These deferred stock units are included in basic weighted average shares outstanding.