| EARNINGS PER COMMON SHARE |
NOTE 7 – LOSS PER COMMON SHARE
A reconciliation of the numerators and denominators used in the computation of basic earnings per common share and diluted earnings per
common share is presented below. Earnings per common share are presented below for the three month and nine month periods ended September 30, 2011 and 2010:
The factors in the earnings per
share computation follow:
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Three Months Ended
September 30, |
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|
Nine Months Ended
September 30, |
|
| (000s omitted except share and per share data) |
|
2011 |
|
|
2010 |
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|
2011 |
|
|
2010 |
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|
Basic
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|
|
|
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|
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Net loss
|
|
$ |
(700 |
) |
|
$ |
(2,337 |
) |
|
$ |
(635 |
) |
|
$ |
(5,600 |
) |
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|
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|
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Weighted average common shares outstanding
|
|
|
2,349,249 |
|
|
|
2,277,406 |
|
|
|
2,326,837 |
|
|
|
2,265,472 |
|
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Basic loss per common share
|
|
$ |
(0.30 |
) |
|
$ |
(1.03 |
) |
|
$ |
(0.27 |
) |
|
$ |
(2.47 |
) |
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Diluted
|
|
|
|
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|
|
|
|
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|
|
|
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Net loss
|
|
$ |
(700 |
) |
|
$ |
(2,337 |
) |
|
$ |
(635 |
) |
|
$ |
(5,600 |
) |
|
Weighted average common shares outstanding for for basic earnings per common share
|
|
|
2,349,249 |
|
|
|
2,277,406 |
|
|
|
2,326,837 |
|
|
|
2,265,472 |
|
|
Add: Dilutive effects of assumed exercises of stock options
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|
0 |
|
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|
0 |
|
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|
0 |
|
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|
0 |
|
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|
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Average shares and dilutive potential common shares
|
|
|
2,349,249 |
|
|
|
2,277,406 |
|
|
|
2,326,837 |
|
|
|
2,265,472 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted loss per common share
|
|
$ |
(0.30 |
) |
|
$ |
(1.03 |
) |
|
$ |
(0.27 |
) |
|
$ |
(2.47 |
) |
| |
|
|
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The factors in the earnings per share of continuing operations follow:
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|
|
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|
|
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|
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|
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| (000s omitted except share and per share data) |
|
2011 |
|
|
2010 |
|
|
2011 |
|
|
2010 |
|
|
Basic
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss of continuing operations
|
|
$ |
(700 |
) |
|
$ |
(2,243 |
) |
|
$ |
(1,107 |
) |
|
$ |
(5,489 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding
|
|
|
2,349,249 |
|
|
|
2,277,406 |
|
|
|
2,326,837 |
|
|
|
2,265,472 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic loss per common share from continuing operations
|
|
$ |
(0.30 |
) |
|
$ |
(0.98 |
) |
|
$ |
(0.48 |
) |
|
$ |
(2.42 |
) |
| |
|
|
|
|
|
|
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|
|
|
|
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|
|
|
|
Diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss of continuing operations
|
|
$ |
(700 |
) |
|
$ |
(2,243 |
) |
|
$ |
(1,107 |
) |
|
$ |
(5,489 |
) |
|
Weighted average common shares outstanding for basic earnings per common share
|
|
|
2,349,249 |
|
|
|
2,277,406 |
|
|
|
2,326,837 |
|
|
|
2,265,472 |
|
|
Add: Dilutive effects of assumed exercises of stock options
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average shares and dilutive potential common shares
|
|
|
2,349,249 |
|
|
|
2,277,406 |
|
|
|
2,326,837 |
|
|
|
2,265,472 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted loss per common share from continuing operations
|
|
$ |
(0.30 |
) |
|
$ |
(0.98 |
) |
|
$ |
(0.48 |
) |
|
$ |
(2.42 |
) |
| |
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Stock options of 13,907 and 16,755 shares of common stock outstanding at September 30, 2011 and September 30,
2010, respectively were not considered in computing diluted earnings per common share for 2011 and 2010, because they were antidilutive.
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