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 | |
|