Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings (Loss) Per Share

Loss per share is calculated by dividing net income by the weighted average number of shares of common shares outstanding during the period. Diluted loss per share reflects the potential dilution from the conversion or exercise into common stock of securities such as stock options and warrants. Dilutive loss per share for the nine and three months ended September 30, 2012, is the same as basic loss per share.

For the nine and three months ended September 30, 2011, diluted earnings per share included 90,000 and 82,000, respectively, shares of common stock associated with outstanding options and warrants, 235,000 shares issuable upon conversion of our convertible preferred stock calculated using the treasury stock method, and 804,000 shares of unvested restricted stock.