Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

Note 7- Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share, for the periods indicated:

(In thousands, except per share amounts)	Three Months Ended
	March 31, 2012			March 31, 2011
Numerator:
Income (loss)	$	(1,700	)	$	11,065
Denominator:
Denominator for basic earnings per share -
Weighted-average shares		16,233			15,893
Effect of dilutive stock options		-			636
Denominator for diluted earnings per share - Adjusted
weighted-average shares and assumed conversions		16,233			16,529
Basic income (loss) per share:	$	(0.10	)	$	0.70
Diluted income (loss) per share:	$	(0.10	)	$	0.67

Certain potential ordinary shares were excluded from the calculation of diluted weighted-average shares outstanding because they would have an anti-dilutive effect on net income per share.  For the quarter ended March 31, 2012, potential ordinary shares that were not otherwise anti-dilutive were excluded from the calculation of diluted weighted-average shares outstanding because they would have an anti-dilutive effect on our net loss per share.

	Three Months Ended
	March 31, 2012		March 31, 2011
Anti-dilutive shares excluded		1,119,735		666,603
Dilutive shares excluded due to net loss		588,513		-