Quarterly report pursuant to sections 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
9.   Earnings Per Share

Basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share assumes the issuance of potentially dilutive shares of common stock during the period. The following table reconciles the numerators and denominators of the basic and diluted income (loss) per share computations:

 

                 
    Three Months Ended  
    March 31  
     2013     2012  

Numerator:

                

Net income (loss) (in thousands)

  $ 51     $ (915 ) 

Denominator:

                

Weighted average common shares outstanding:

                

Basic

     21,802,515       21,132,545  

Dilutive effect of non-vested awards

     435,645       —    
   

 

 

    

 

 

  

Diluted

     22,238,160       21,132,545  

Net income (loss) per share:

                

Basic

   $ —       $ (0.04 ) 

Diluted

   $ —       $ (0.04 ) 
   

 

 

    

 

 

  

For the three months ended March 31, 2013 and 2012, 0.4 million and 0.9 million, respectively, of unvested restricted shares were not included in the calculation because they would have an anti-dilutive effect. In addition, 1.0 million of vested stock options were not included in the calculation for the three months ended March 31, 2013 because they would have an anti-dilutive effect.