Net Income (loss) Per Common Share

3 Months Ended

Mar. 31, 2012

Net Income (loss) Per Common Share [Abstract]

Net Income (loss) Per Common Share

(NOTE 5) - Net Income (loss) Per Common Share:

The following table sets forth the computation of basic and diluted net income (loss) per common share:

	Three Months Ended March 31,
	2012		2011
Denominator:
Denominator for basic net income (loss) per share - weighted-average common shares		4,646,000		4,638,000
Effect of dilutive securities:
Employee and directors stock options		-		22,000
Unearned portion of restricted stock awards		-		2,000
Denominator for diluted net income (loss) per share - weighted-average common shares and assumed conversion		4,646,000		4,662,000

The numerator for basic and diluted net income (loss) per share for the three month periods ended March 31, 2012 and 2011 is the net income (loss) for each period.

During the three months ended March 31, 2012, the Company had a net loss and therefore did not include 26,000 incremental common shares in its calculation of diluted net loss per share since an inclusion of such securities would be anti-dilutive.

Options to purchase 163,000 and 166,000 shares of common stock were outstanding during the three months ended March 31, 2012 and 2011, respectively, but were not included in the computation of diluted income (loss) 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.

Approximately 55,000 and 97,000 shares of common stock were outstanding during the three months ended March 31, 2012 and 2011, respectively, but were not included in the computation of basic income (loss) per share. These shares were excluded because they represent the unvested portion of restricted stock awards.