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Earnings per share
 6 Months Ended
Jun. 30, 2012
Earnings per share [Abstract]  
Earnings per share
Note 7 - Earnings per share

Earnings per share are calculated in accordance with ASC Topic 260, which specifies the computation, presentation and disclosure requirements for earnings per share (EPS).  It requires the presentation of basic and diluted EPS.  Basic EPS excludes all dilution and is based upon the weighted average number of common shares outstanding during the period.  Diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. 
 
For the three and six months ended June 30, 2012, there were 652,000 and 647,000, respectively, anti-dilutive stock options.  For the three and six months ended June 30, 2011, there were 648,000 and 521,000, respectively anti-dilutive stock options outstanding.

The following is a reconciliation of the weighted average shares outstanding for the basic and diluted EPS computations (in thousands, except per share data):


 
 
For the three months
 
  
 
ended June 30,
 
 
 
 
2012
 
 
 
2011
 
Loss from continuing operations
 
$
(511
)
 
$
(17,526
)
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
Shares outstanding at beginning of period
 
 
15,088
 
 
 
14,934
 
Weighted average shares issued during the period, net
 
 
10
 
 
 
62
 
Weighted average common shares, basic
 
 
15,098
 
 
 
14,996
 
Earnings/(loss) from continuing operations per common share, basic
 
$
(0.03
)
 
$
(1.17
)
Diluted:
 
 
 
 
 
 
 
 
Weighted average common shares, basic
 
 
15,098
 
 
 
14,996
 
Dilutive impact of stock options and restricted stock awards
 
 
-
 
 
 
-
 
Weighted average common shares, diluted
 
 
15,098
 
 
 
14,996
 
Earnings/(loss) from continuing operations per common share, diluted
 
$
(0.03
)
 
$
(1.17
)


 
 
For the six months
 
  
 
ended June 30,
 
 
 
 
2012
 
 
 
2011
 
Income (loss) from continuing operations
 
$
524
 
 
$
(16,785
)
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
Shares outstanding at beginning of period
 
 
15,051
 
 
 
14,909
 
Weighted average shares issued during the period, net
 
 
40
 
 
 
51
 
Weighted average common shares, basic
 
 
15,091
 
 
 
14,960
 
Earnings/(loss) from continuing operations per common share, basic
 
$
0.03
 
 
$
(1.12
)
Diluted:
 
 
 
 
 
 
 
 
Weighted average common shares, basic
 
 
15,091
 
 
 
14,960
 
Dilutive impact of stock options and restricted stock awards
 
 
72
 
 
 
-
 
Weighted average common shares, diluted
 
 
15,163
 
 
 
14,960
 
Earnings/(loss) from continuing operations per common share, diluted
 
$
0.03
 
 
$
(1.12
)