Loss per common share

9 Months Ended

Sep. 30, 2012

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,
	2012			2011			2012			2011
Numerator:
Net loss	$	(5,663	)	$	(13,668	)	$	(10,241	)	$	(24,910	)
Denominator:
Basic-weighted average shares		17,917			17,663			17,839			17,557
Effect of dilutive stock options		-			-			-			-
Diluted-weighted average shares		17,917			17,663			17,839			17,557
Basic loss per common share	$	(0.32	)	$	(0.77	)	$	(0.57	)	$	(1.42	)
Diluted loss per common share	$	(0.32	)	$	(0.77	)	$	(0.57	)	$	(1.42	)

During the three months ended September 30, 2012 and 2011, options totaling 397,000 and 687,000 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 nine months ended September 30, 2012 and 2011, options totaling 371,000 and 684,000 shares, respectively, were not included in the calculation of diluted weighted average shares, as their effect would be anti-dilutive.  As of September 30, 2012 and 2011, the Company has outstanding 486,000 and 366,000 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.