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Income Per Share
9 Months Ended
Sep. 30, 2012
Income Per Share [Abstract]  
Income Per Share

9.

Income Per Share

 

 

 

The following table presents a reconciliation between basic and diluted earnings per share:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,
2012

 

September 30,
2011

 

September 30,
2012

 

September 30,
2011

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

217

 

$

(489

)

$

377

 

$

(1,073

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic – weighted shares outstanding

 

 

5,674

 

 

5,600

 

 

5,666

 

 

5,576

 

Weighted shares assumed upon exercise of stock options

 

 

180

 

 

 

 

244

 

 

 

Diluted – weighted shares outstanding

 

 

5,854

 

 

5,600

 

 

5,910

 

 

5,576

 

 

Income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.04

 

$

(0.09

)

$

0.07

 

$

(0.19

)

Diluted

 

$

0.04

 

$

(0.09

)

$

0.06

 

$

(0.19

)


 

 

 

The dilutive impact summarized above relates to the periods when the average market price of Company stock exceeded the exercise price of the potentially dilutive option securities granted. Earnings per common share was based on the weighted average number of common shares outstanding during the periods when computing the basic earnings per share. When dilutive, stock options are included as equivalents using the treasury stock market method when computing the diluted earnings per share.

 

 

 

Excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2012 were outstanding options to purchase approximately 487 and 333 common shares because the effect was anti-dilutive. Excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2011 were all options outstanding of approximately 1,123 common shares, due to the Company's net loss in the periods.