Note 16 - Net (loss) earnings per common share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Text Block]

16.  Net (loss) earnings per common share

Earnings per share calculations cannot be anti-dilutive, therefore diluted shares are not used in the denominator when the numerator is in a loss position.  The following table reconciles the numerator used to calculate earnings per common share:

	2012			2011		2010
Net (loss) earnings attributable to common shareholders	$	(3,753	)	$	64,139	$	3,463
Assumed interest savings on conversion of Convertible Debentures, net of tax; if dilutive		-			3,604		-
Net (loss) earnings for diluted earnings per share calculation purposes	$	(3,753	)	$	67,743	$	3,463

The Convertible Debentures were dilutive in 2011, but anti-dilutive in all other periods presented.  The following table reconciles the denominator used to calculate earnings per common share:

	2012			2011			2010
Shares issued and outstanding at beginning of period		29,941,254			30,318,274			29,624,910
Weighted average number of shares:
Issued during the period		250,868			218,418			455,708
Repurchased during the period		(165,703	)		(443,081	)		-
Weighted average number of shares used in computing basic earnings per share		30,026,419			30,093,611			30,080,618
Assumed exercise of stock options, net of shares assumed acquired under the Treasury Stock Method		349,531			457,404			286,193
Assumed conversion of dilutive Convertible Debentures		-			2,750,000			-
Number of shares used in computing diluted earnings per share		30,375,950			33,301,015			30,366,811