Net Income (loss) Per Common Share

6 Months Ended

Jun. 30, 2013

Net Income (loss) Per Common Share [Abstract]

Net Income (loss) Per Common Share

(NOTE 4) – Net Income (loss) Per Common Share:

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

	Six Months Ended June 30,				Three Months Ended June 30,
	2013		2012		2013		2012
Denominator:
Denominator for basic net income (loss) per share - weighted-average common shares		4,456,000		4,609,000		4,577,000		4,425,000
Effect of dilutive securities:
Employee and directors stock options		21,000		-		21,000		25,000
Unearned portion of restricted stock awards		14,000		-		13,000		3,000
Denominator for diluted net income (loss) per share -weighted-average common shares and assumed conversion		4,491,000		4,609,000		4,459,000		4,605,000

The numerator for basic and diluted net income (loss) per share for the six and three month periods ended June 30, 2013 and 2012 is the net income (loss) for each period.

During the six months ended June 30, 2012, the Company had a net loss and therefore did not include 28,000 incremental common shares in its calculation of diluted net loss per common share since an inclusion of such securities would be anti-dilutive.

Options to purchase 92,000 shares of common stock were outstanding during the six and three month periods ending June 30, 2013 and 163,000 shares were outstanding during the comparable periods in 2012, 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 149,000 shares of outstanding common stock during the six and three months ended June 30, 2013 and approximately 61,000 shares of outstanding common stock during the six and three months ended June 30, 2012 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.