Quarterly report pursuant to sections 13 or 15(d)

Earnings (Loss) Per Share

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Earnings (Loss) Per Share
9 Months Ended
Sep. 30, 2011
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share
5.
Earnings (Loss) Per Share
 
Basic earnings (loss) per share excludes any dilutive effects of stock options, warrants, and convertible preferred stock.  In periods where they are anti-dilutive, such amounts are excluded from the calculations of dilutive earnings per share.

The following is a reconciliation of basic net income (loss) per share to diluted net income (loss) per share for the three and nine months ended September 30, 2011 and 2010:

   
Three Months Ended 
September 30,
  
Nine Months Ended 
September 30,
 
   
(Unaudited)
  
(Unaudited)
 
(Amounts in Thousands, Except for Per Share Amounts)
 
2011
  
2010
  
2011
  
2010
 
Income (loss) per share from continuing operations
          
Income (loss) from continuing operations
 $4,421  $(965) $6,440  $1,725 
Basic income (loss) per share
 $.08  $(.02) $.12  $.03 
Diluted income (loss) per share
 $.08  $(.02) $.12  $.03 
                  
(Loss) income per share from discontinued operations
             
Loss from discontinued operations
 $(187) $(101) $(7) $(708)
Basic loss per share
 $-  $-  $-  $(.01)
Diluted loss per share
 $-  $-  $-  $(.01)
                  
Income per share from disposal of discontinued operations
             
Gain on disposal of discontinued operations
 $1,777  $-  $1,777  $- 
Basic income per share
 $.03  $-  $.03  $- 
Diluted income per share
 $.03  $-  $.03  $- 
                  
Weighted average common shares outstanding – basic
  55,174   55,031   55,137   54,906 
Potential shares exercisable under stock option plans
  -   -   5   93 
Potential shares upon exercise of Warrants
  -   -   -   32 
Weighted average shares outstanding – diluted
  55,174   55,031   55,142   55,031 
                  
                  
Potential shares excluded from above weighted average share calculations due to their anti-dilutive effect include:
 
Upon exercise of options
  2,842   2,463   2,602   1,715 
Upon exercise of Warrants
  150   ¾   150   ¾