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Earnings per share
 9 Months Ended
Sep. 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 nine months ended September 30, 2012, there were 306,000 and 659,000, respectively, anti-dilutive stock options outstanding.  For the three and nine months ended September 30, 2011, there were 728,000 and 602,000, 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 September 30,
 
 
 
2012
 
 
2011
 
Income from continuing operations
 
$
1,304
 
 
$
1,596
 
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
Shares outstanding at beginning of period
 
 
15,119
 
 
 
15,009
 
Weighted average shares issued during the period, net
 
 
12
 
 
 
22
 
Weighted average common shares, basic
 
 
15,131
 
 
 
15,031
 
Earnings from continuing operations per common share, basic
 
$
0.09
 
 
$
0.11
 
Diluted:
 
 
 
 
 
 
 
 
Weighted average common shares, basic
 
 
15,131
 
 
 
15,031
 
Dilutive impact of stock options and restricted stock awards
 
 
76
 
 
 
87
 
Weighted average common shares, diluted
 
 
15,207
 
 
 
15,118
 
Earnings from continuing operations per common share, diluted
 
$
0.09
 
 
$
0.11
 
 
 
For the nine months
 
 
ended September 30,
 
 
 
2012
 
 
2011
 
Income (loss) from continuing operations
 
$
1,828
 
 
$
(15,189
)
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
Shares outstanding at beginning of period
 
 
15,051
 
 
 
14,909
 
Weighted average shares issued during the period, net
 
 
54
 
 
 
75
 
Weighted average common shares, basic
 
 
15,105
 
 
 
14,984
 
Earnings from continuing operations per common share, basic
 
$
0.12
 
 
$
(1.01
)
Diluted:
 
 
 
 
 
 
 
 
Weighted average common shares, basic
 
 
15,105
 
 
 
14,984
 
Dilutive impact of stock options and restricted stock awards
 
 
74
 
 
 
-
 
Weighted average common shares, diluted
 
 
15,179
 
 
 
14,984
 
Earnings from continuing operations per common share, diluted
 
$
0.12
 
 
$
(1.01
)