Loss Per Common Share

9 Months Ended

Sep. 30, 2011

Note 14. Loss Per Common Share

The Company follows the provisions of FASB ASC Topic 260, “Earnings per Share” (“ASC Topic 260”). Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period. The Company has two classes of common stock currently outstanding. The classes are A and B, of which one share of Class B is convertible into 1.15 shares of Class A. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock using the treasury stock method. For the three months and nine months ended September 30, 2011, 578,819, and 568,395 options to purchase shares of common stock, respectively, were anti-dilutive in the computation of diluted EPS, as exercise price exceeded average market price and as a result of the net loss for the three months and nine months ended September 30, 2011. For the three months and nine months ended September 30, 2010, 582,274 and 599,516 options to purchase shares of common stock, respectively, were anti-dilutive in the computation of diluted EPS, as exercise price exceeded average market price and as a result of the net loss for the three months and nine months ended September 30, 2010. Additionally 30,407 warrants were also anti-dilutive for all periods presented below.

Basic and diluted EPS are calculated as follows:

	Three months ended September 30, 2011
	Loss			Average shares		Per share
(In thousands, except for per share data)	(numerator)			(denominator)		Amount
Basic and Diluted EPS
Loss available to common shareholders	$	(2,395	)		13,257	$	(0.18	)

	Three months ended September 30, 2010
	Income			Average shares		Per share
(In thousands, except for per share data)	(numerator)			(denominator)		Amount
Basic and Diluted EPS
Loss available to common shareholders	$	(3,289	)		13,257	$	(0.25	)

	Nine months ended September 30, 2011
	Loss			Average shares		Per share
(in thousands, except for per share data)	(numerator)			(denominator)		Amount
Basic and Diluted EPS
Loss available to common shareholders	$	(9,128	)		13,257	$	(0.69	)

	Nine months ended September 30, 2010
	Loss			Average shares		Per share
(in thousands, except for per share data)	(numerator)			(denominator)		Amount
Basic and Diluted EPS
Loss available to common shareholders	$	(9,881	)		13,257	$	(0.75	)

See “Note 13 - Stock Compensation Plans” to the Consolidated Financial Statements for a discussion on the Company's stock option and restricted stock plans.