13. INCOME (LOSS) PER SHARE
The following table sets forth the computation of basic and diluted income (loss) per share:
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Twelve months ended December 31, |
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2011 |
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2010 |
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2009 |
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Numerators: |
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Income (loss) before discontinued operations |
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$ |
(1,425 |
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$ |
655 |
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$ |
(1,802 |
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Loss from discontinued operations, net of taxes and gain on sale |
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— |
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(294 |
) |
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(2,119 |
) |
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Net income (loss) |
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$ |
(1,425 |
) |
$ |
361 |
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$ |
(3.921 |
) |
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Denominator: |
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Basic – weighted shares outstanding |
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5,599 |
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5,484 |
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5,394 |
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Weighted shares assumed upon exercise of stock options |
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— |
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51 |
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— |
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Diluted – weighted shares outstanding |
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5,599 |
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5,535 |
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5,394 |
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Basic earnings (loss) per share: |
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Continuing operations |
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$ |
(.25 |
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$ |
0.12 |
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$ |
(0.34 |
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Discontinued operations |
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— |
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(0.05 |
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(0.39 |
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Basic earnings (loss) per share: |
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$ |
(.25 |
) |
$ |
0.07 |
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$ |
(0.73 |
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Diluted earnings (loss) per share: |
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Continuing operations |
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$ |
(.25 |
) |
$ |
0.12 |
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$ |
(0.34 |
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Discontinued operations |
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— |
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(0.05 |
) |
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(0.39 |
) |
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Diluted earnings (loss) per share: |
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$ |
(.25 |
) |
$ |
0.07 |
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$ |
(0.73 |
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The Company excluded stock options of 1,085, 575, and 1,247, in 2011, 2010, and 2009, respectively, from the computation of the diluted income per share as their effect would be anti-dilutive. For additional disclosures regarding the stock options, see Note 12. |