EX-11 2 ex_11.htm EXHIBIT 11 ex_11.htm
 
 
 

EXHIBIT 11

COMPUTATION OF EARNINGS PER SHARE
(in thousands, except per share data)


(a) Computation of the weighted average number of shares of common stock outstanding for the fiscal years ended the years ended December 31, 2005, 2006 and 2007.

   
Shares of Common Stock
    
Weighted Shares Outstanding
  
January 1, 2005 to December 31, 2005
     10,812       10,812  
Shares issued on exercise of stock options
     -       -  
Shares issued under Directors Stock Plan
     6       4  
Shares issued under Employee Stock Plan
     1       1  
Shares issued to Laurus Master Fund, Inc.
     823       414  
                                       Total
     11,642       11,231  
January 1, 2006 to December 31, 2006
     11,642       11,642  
Shares issued on exercise of stock options
     77       57  
Shares issued under Directors Stock Plan
     8       5  
Shares issued in connection with purchase of the assets of Airdesk, Inc.
     648       641  
Shares held in escrow in connection with purchase of the assets of Airdesk, Inc.
     (300 )     (297 )
Shares issued to Laurus Master Fund, Inc.
     885       454  
                                       Total
     12,960       12,502  
January 1, 2007 to December 31, 2007
     12,960       12,960  
Shares issued on exercise of stock options
     134       100  
Shares issued under Directors Stock Plan
     6       1  
Shares issued in connection with purchase of the assets of Airdesk, Inc.
     100       75  
Shares issued in connection with purchase of the assets of Orbit One, Inc.
     320       1  
                                       Total
     13,520       13,137  

(b) Computation of Earnings per Share

Computation of earnings per share is net earnings (loss) divided by the weighted average number of shares of common stock outstanding for the years ended December 31, 2005, 2006 and 2007.


   
2005
    
2006
    
2007
  
Net earnings
   $ 593     $ 4,103     $ 440  
Weighted average number of shares of common stock outstanding
     11,231       12,502       13,137  
Basic earnings per  share
   $ 0.05     $ 0.33     $ 0.03  
Diluted earnings per share
   $ 0.05     $ 0.32     $ 0.03