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Earnings per share
 3 Months Ended
Mar. 31, 2013
Earnings per share [Abstract]  
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 months ended March 31, 2013 there were no anti-dilutive stock options outstanding as the Company reported a net loss for the period.  For the three months ended March 31, 2012, there were 643,000 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 March 31,
 
 
 
2013
 
 
2012
 
Income (loss) from continuing operations
 
$
(369
)
 
$
1,035
 
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
Shares outstanding at beginning of period
 
 
15,154
 
 
 
15,051
 
Weighted average shares issued during the period, net
 
 
-
 
 
 
32
 
Weighted average common shares, basic
 
 
15,154
 
 
 
15,083
 
Income (loss) from continuing operations per common share, basic
 
$
(0.02
)
 
$
0.07
 
Diluted:
 
 
 
 
 
 
 
 
Weighted average common shares, basic
 
 
15,154
 
 
 
15,083
 
Dilutive impact of stock options and restricted stock awards
 
 
-
 
 
 
79
 
Weighted average common shares, diluted
 
 
15,154
 
 
 
15,162
 
Income (loss) from continuing operations per common share, diluted
 
$
(0.02
)
 
$
0.07