Earnings (Loss) Per Share ("EPS")

6 Months Ended

Jun. 30, 2013

Earnings Per Share [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 three months ended June 30, 2013, the weighted average shares outstanding were increased by 1,000 shares to reflect the dilutive effect of share options. No shares were added to the weighted average shares outstanding for purposes of calculating diluted EPS during the six months ended June 30, 2013 as options were anti-dilutive. During the three and six months ended June 30, 2012, the weighted average shares outstanding were increased by 21,000 and 18,000 shares, respectively, to reflect the dilutive effect of share options.

Not included in the computation of diluted EPS were outstanding options to purchase 69,000 common shares during both the three months ended June 30, 2013 and 2012 and 99,000 and 69,000 common shares during the six months ended June 30, 2013 and 2012, respectively, because the options’ exercise prices were greater than the average market price of the shares.