Note 2 - Loss Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

Note 2.               Loss Per Share

Basic loss per share excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period.  Diluted loss per share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings.  The calculation of diluted loss per share for the three months ended March 31, 2012 and 2011 excludes all unexercised options and 175,000 and 52,000 unvested shares, respectively, since the effect of any assumed exercise of the related awards would be anti-dilutive.

The following table sets forth for the periods indicated the calculation of net loss per share included in the consolidated condensed statements of operations:

(in thousands except per share data)	Three months ended March 31,
	2012			2011
Numerator:
Net loss	$	(640	)	$	(2,464	)
Denominator:
Denominator for basic earnings per share – weighted-average shares		14,722			14,677
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted stock		-			-
Equivalent shares issuable upon conversion of unvested employee stock options		-			-
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed conversions		14,722			14,677
Basic and diluted net loss per share:	$	(0.04	)	$	(0.17	)