EARNINGS PER SHARE ("EPS")

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE ("EPS")

NOTE 12 - EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing net income or loss by the weighted average common shares outstanding during a period, including shares weighted related to vested RSUs. Diluted EPS is based on the treasury stock method and computed based on the same number of shares used in the basic share calculation and includes the effect from potential issuance of common stock, such as shares issuable pursuant to the exercise of stock options and stock warrants, assuming the exercise of all in-the-money stock options and warrants. These common stock equivalents are excluded from the computation where their inclusion would be anti-dilutive. No such adjustments were made for either 2013 or 2012 as the Company reported a net loss for the three month and six month periods, and including the effects of these common stock equivalents in the diluted EPS calculation would have been antidilutive.

A reconciliation of the numerators and denominators of basic and diluted EPS for the period is as follows (in thousands): 

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2013		2012		2013		2012
EPS – basic and diluted
Numerator: net loss	$	(3,076)	$	(2,179)	$	(7,294)	$	(4,512)
Denominator:
Common shares		46,399		45,863		46,386		45,861
Vested RSUs		829		1,658		829		1,658
Basic and diluted weighted average shares outstanding		47,228		47,521		47,215		47,519
EPS – basic and diluted	$	(0.07)	$	(0.05)	$	(0.16)	$	(0.10)
Excluded securities:
Common shares issuable:
Stock options		3,342		2,935		3,342		2,935
Common stock warrants		1,856		1,856		1,856		1,856
Total excluded common shares		5,198		4,791		5,198		4,791