Net (Loss) Income Per Common Share

6 Months Ended

Jun. 30, 2014

Net (Loss) Income Per Common Share [Abstract]

Net (Loss) Income Per Common Share

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

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

	Six Months Ended June 30,				Three Months Ended June 30,
	2014		2013		2014		2013
Denominator:
Denominator for basic net (loss) income  per share - weighted-average common shares		4,376,000		4,456,000		4,373,000		4,425,000
Effect of dilutive securities:
Employee and directors stock options		-		21,000		-		21,000
Unearned portion of restricted stock awards		-		14,000		-		13,000
Denominator for diluted net (loss) income per share - weighted-average common shares and assumed conversion		4,376,000		4,491,000		4,373,000		4,459,000

The numerator for basic and diluted net (loss) income  per share for the six and three month periods ended June 30, 2014 and 2013 is the net (loss) income for each period.

Stock options to purchase 83,000 shares of common stock were outstanding at June 30, 2014 but were not included in the computation of diluted loss share because inclusion of these options would have been anti-dilutive as the Company incurred net losses during the relevant periods.

Approximately 112,000 and 149,000 shares of common stock were outstanding at June 30, 2014 and 2013, respectively, but were not included in the computation of basic (loss) income  per share. These shares were excluded because they represent the unvested portion of restricted stock awards.