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Earnings/Losses per Share
 6 Months Ended
Jun. 30, 2012
Earnings/Losses per Share (Abstract)  
Earnings/Losses per Share
11.           Earnings/Losses per Share:
 
The Company calculates basic and diluted earnings per share as follows:
 
 
 
Six month period ended 
June 30,
 
 
 
2011
 
 
2012
 
Income/Loss:
 
 
 
 
 
 
Net  income/ (loss)
 
$
3,380
 
 
$
(4,460
)
 
 
 
 
 
 
 
 
 
Basic earnings/ (loss) per share:
 
 
 
 
 
 
 
 
Weighted average common shares outstanding, basic
 
 
63,364,120
 
 
 
80,780,384
 
Basic earnings/ (loss) per share
 
$
0.053
 
 
$
(0.055
)
 
 
 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
 
 
Dilutive effect of non-vested shares
 
 
74,718
 
 
 
-
 
Weighted average common shares outstanding, diluted
 
 
63,438,838
 
 
 
80,780,384
 
Diluted earnings/ (loss) per share
 
$
0.053
 
 
$
(0.055
)
 
The weighted average diluted common shares outstanding for the six month period ended June 30, 2011 includes the effect of 74,718 incremental shares calculated on the non-vested shares outstanding, as their effect was dilutive.