Earnings per Share

6 Months Ended

Jun. 30, 2012

Earnings per Share [Abstract]

Earnings per Share

Note 3 –Earnings per Share

Basic earnings per common share are computed by dividing net income by the weighted average number of shares of stock outstanding.

The Company’s diluted earnings per common share give effect to all potential shares of Common Stock outstanding during a period that are not anti-dilutive. In computing the diluted earnings per share, the treasury stock and if converted methods are used in determining the number of shares assumed to be purchased from the conversion of Common Stock equivalents. The following summarizes the amounts included in the dilutive shares as disclosed on the face of the consolidated condensed statements of operations:

	Three Months				Six Months
	Ended June 30,				Ended June 30,
	2012		2011		2012		2011
Weighted average number of shares for calculation of basic EPS – Common Stock		29,567,545		22,208,454		27,023,219		22,146,231
Impact of stock options outstanding under the 1997 and 2006 Stock Option Plans		535,918		—		617,704		—
Weighted average number of shares for calculation of diluted EPS		30,103,463		23,208,454		27,640,923		22,146,231

The accompanying table represents Common Stock issuable upon the exercise of certain stock options, the Series C Convertible Preferred Stock and potential dividends paid in common stock that have been excluded from the diluted shares calculation because the effect of their inclusion would be anti-dilutive.

	Three Months				Six Months
	Ended June 30,				Ended June 30,
	2012		2011		2012		2011
Stock options outstanding under the 2006 and 2011 Stock Option Plans		84,000		2,060,272		84,000		2,060,272
Series C Convertible Preferred Stock		2,637,085		4,931,161		2,637,085		4,931,161
		2,721,085		6,991,433		2,721,085		6,991,433