Note 4 - Earnings (loss) per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Text Block]

Note 4.  Earnings (loss) per Share.

The computations of basic and diluted earnings (loss) per share from continuing operations are as follows:

	Quarter Ended						Year to Date
	June 30, 2012			June 30, 2011			June 30, 2012			June 30, 2011
Net income (loss) from continuing operations attributable to shareholders	$	(850	)	$	(10,258	)	$	1,026		$	(9,557	)
Amounts allocated to participating securities (nonvested shares and units) (i)		-			-			(67	)		-
Net income (loss) from continuing operations attributable to common shareholders	$	(850	)	$	(10,258	)	$	959		$	(9,557	)
Basic weighted average common shares(ii)		16,916,304			16,752,771			16,916,304			16,675,254
Potential dilutive securities(iii)		-			-			1,962			-
Diluted weighted average common shares		16,916,304			16,752,771			16,918,266			16,675,254
Earnings (loss) per share from continuing operations attributable to common shareholders
Basic	$	(0.05	)	$	(0.61	)	$	0.06		$	(0.57	)
Diluted	$	(0.05	)	$	(0.61	)	$	0.06		$	(0.57	)

(i)   Participating securities include 998,143 and 1,088,644 nonvested restricted shares for the quarters and year to date periods ended June 30, 2012 and 2011, respectively, as well as 200,764 and 0 restricted share units for the quarters and year to date periods ended June 30, 2012 and 2011, respectively.

(ii)   Under the two-class method, basic weighted average common shares exclude outstanding nonvested participating securities consisting of restricted share awards of 998,143 and 1,088,644 for the quarters and year to date periods ended June 30, 2012 and 2011, respectively.

(iii)   Anti-dilutive shares related to stock options totaled 20,000 and 18,000 for the quarters ended June 30, 2012 and 2011, respectively, and 19,000 and 14,000 for the year to date periods ended June 30, 2012 and 2011, respectively.  Potential dilutive securities have not been included in the earnings (loss) per share computation in a period when a loss was experienced.