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Net Income (Loss) Per Share
12 Months Ended
Dec. 31, 2012
Net Income (Loss) Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE

NOTE 17—NET INCOME (LOSS) PER SHARE

Basic net income (loss) per common share has been computed using the weighted-average number of shares of common stock outstanding during the period. As a result of the Company’s net losses for the years ended December 31, 2011 and 2010, all common stock equivalents aggregating 1,189, and 1,048 shares respectively, were excluded from the calculation of diluted loss per share for these years given their anti-dilutive effect. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding plus common stock equivalents for each period.

 

                         
    Year ended December 31,  
    2012     2011     2010  

Weighted average shares outstanding

    16,012       12,956       12,886  

Less: restricted stock issued

    (251     (149     (135
   

 

 

   

 

 

   

 

 

 

Basic divisor

    15,761       12,807       12,751  

Dilutive shares:

                       

Restricted stock awards

    138       —         —    

Stock options

    187       —         —    
   

 

 

   

 

 

   

 

 

 

Diluted divisor

    16,086       12,807       12,751  
   

 

 

   

 

 

   

 

 

 

Net income (loss)

  $ 96,308     $ (7,710   $ (12,579
   

 

 

   

 

 

   

 

 

 

Net income (loss) per share:

                       

Basic

  $ 6.11     $ (0.60   $ (0.99
   

 

 

   

 

 

   

 

 

 

Diluted

  $ 5.99     $ (0.60   $ (0.99