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Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
7. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share data):

 

                         
    Year Ended December 31,  
    2012     2011     2010  

Numerator:

                        

Net income (loss)

   $ 2,720     $ (11,588 )    $ (10,066 ) 
   

 

 

    

 

 

    

 

 

  

Denominator:

                        

Basic weighted average shares outstanding

     16,123,592       15,388,456       15,187,028  

Effect of dilutive securities:

                        

SARS and options

     406,482       —         —    

Restricted stock

     51,799       —         —    

Convertible notes

     482,983       —         —    
   

 

 

    

 

 

    

 

 

  

Diluted weighted average shares outstanding

     17,064,856       15,388,456       15,187,028  
   

 

 

    

 

 

    

 

 

  

Basic earnings (loss) per share

   $ 0.17     $ (0.75 )    $ (0.66 ) 
   

 

 

    

 

 

    

 

 

  

Diluted earnings (loss) per share

   $ 0.16     $ (0.75 )    $ (0.66 ) 
   

 

 

    

 

 

    

 

 

  

Diluted earnings per share is computed using the weighted average number of shares determined for the basic earnings per share computation plus the dilutive effect of common stock equivalents using the treasury stock method. The computation of diluted earning per share excludes the following potentially dilutive securities because the effect would be anti-dilutive:

 

                         
    Year Ended December 31,  
    2012     2011     2010  

Restricted stock and stock options

     117,322       240,969       394,852  

Stock appreciation rights

     121,206       618,178       1,057,147