NET INCOME (LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2011

NET INCOME (LOSS) PER COMMON SHARE [Abstract]

NET INCOME (LOSS) PER COMMON SHARE

18. NET INCOME (LOSS) PER COMMON SHARE: Thefollowing table sets forth the computation of basic and diluted net income (loss) per common share:

Year Ended December 31,	2011		2010
Denominator:
Denominator for basic net income (loss) per  share –   weighted-average common shares		4,672,000		4,563,000
Effect of dilutive securities:
Unearned portion of restricted stock awards		-		-
Employee and director stock options		25,000		-
Denominator for diluted net income (loss) per share - weighted-average common shares and assumed conversions		4,697,000		4,563,000

The numerator for basic and diluted net income (loss) per share for the years ended December 31, 2011 and 2010 is the net income (loss) for each year.

Stock options to purchase 163,000 shares of common stock were outstanding during the year ended December 31, 2011 but were not included in the computation of diluted income per share. The inclusion of these options would have been anti-dilutive as the options' exercise prices were greater than the average market price of the Company's common shares during the relevant period.

During the year ended December 31, 2010, the Company had a net loss and therefore did not include 229,000 incremental common shares and options in its calculation of diluted net loss per common share an inclusion of such securities would be anti-dilutive.

Approximately 61,000 and 97,000 shares of restricted common stock were outstanding during the years ended December 31, 2011 and 2010, respectively, but were not included in the computation of basic earnings per share. These shares were excluded because they represent the unvested portion of restricted stock awards.