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Income (Loss) Per Common Share
9 Months Ended
Sep. 30, 2011
Income (Loss) Per Common Share [Abstract] 
Income (Loss) Per Common Share

16.  Income (Loss) Per Common Share

 

        The following table sets forth the computation of basic and diluted income (loss) per common share (in thousands, except per share data):

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

Basic income (loss) per common share

2011

2010

 

2011

2010

Net income (loss)

$

2,019

$

(3,031)

 

$

5,505

$

1,829

                   

Basic weighted-average common shares outstanding

 

27,523

 

27,783

 

 

27,431

 

28,086

Basic income (loss) per common share

$

0.07

$

(0.11)

 

$

0.2

$

0.07

 

   

Three Months Ended

 

Nine Months Ended

   

September 30,

 

September 30,

Diluted income (loss) per common share

 

2011

2010

 

2011

2010

Net income (loss)

 

$

2,019

$

-3,031

 

$

5,505

$

1,829

                     

Basic weighted-average common shares outstanding

 

27,523

 

27,783

   

27,431

 

28,086

Effect of dilutive stock options a

   

95

 

--

   

118

 

126

Effect of dilutive RSAs and RSUs b

   

232

 

--

   

216

 

144

Diluted weighted-average common shares outstanding

 

27,850

 

27,783

 

 

27,765

 

28,356

Diluted income (loss) per common share

 

$

0.07

$

-0.11

 

$

0.2

$

0.06

 

___________________

a          The Company excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares, because the inclusion of these stock options would be antidilutive to income (loss) per common share.  Accordingly, stock options to purchase a weighted average 2.1 million and 1.6 million shares for the three months ended September 30, 2011 and 2010, respectively, and 2.0 million and 1.5 million shares for the nine months ended September 30, 2011 and 2010, respectively, were excluded from the calculation of diluted weighted-average common shares outstanding.

 

b          The Company excluded 145,000 in unvested restricted stock awards from the calculation of diluted weighted-average common shares outstanding for the three months ended September 30, 2010 because the inclusion of these stock awards would be antidilutive to income (loss) per common share.