Earnings (Loss) Per Share (EPS)

9 Months Ended

Sep. 30, 2012

Earnings (Loss) Per Share (EPS) [Abstract]

Earnings (Loss) Per Share (EPS)

Note 9. Earnings (Loss) Per Share (“EPS”):

The computations of basic EPS are based on our weighted average shares outstanding. During the nine months ended September 30, 2012, the weighted average shares outstanding were increased by 26,000 shares to reflect the dilutive effect of stock options. During the three months ended September 30, 2012, no shares were added to the weighted average shares outstanding for purposes of calculating diluted earnings per share as all options were anti-dilutive. During the three and nine months ended September 30, 2011, the weighted average shares outstanding were increased by 14,000 and 55,000 shares, respectively, to reflect the dilutive effect of stock options.

Not included in the computation of diluted EPS were outstanding options to purchase 113,000 and 81,000 common shares during the three months ended September 30, 2012 and 2011, respectively, and 69,000 and 39,000 common shares during the nine months ended September 30, 2012 and 2011, respectively, because the options’ exercise prices were greater than the average market price of the shares.