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Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2012
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share

(2) Earnings (Loss) Per Share

The Company calculates basic earnings per share by dividing (loss) earnings available to common stockholders by the weighted average common shares outstanding during the period, excluding common stock subject to vesting provisions. Diluted earnings per share is computed by dividing loss earnings available to common stockholders by the weighted average number of common shares outstanding during the period increased to include, if dilutive, the number of additional common shares that would have been outstanding if the potential common shares had been issued. The Company’s potentially dilutive shares include options and warrants.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted loss per share follows:

 

                                 
(In thousands, except shares and per share data)   Three Months Ended June 30,     Six Months Ended June 30,  
    2012     2011     2012     2011  

Net (loss) income

   $ (1,146 )    $ 294     $ (2,553 )    $ (1,912 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Net( loss) income available to common shareholders

   $ (1,146 )    $ 294     $ (2,553 )    $ (1,912 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Weighted average shares of common stock outstanding

     12,182,999       10,146,026       12,182,999       9,493,904  

Less: Weighted-average shares of unvested common stock

     (16,698 )      (16,698 )      (16,698 )      (16,698 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Total weighted-average shares used in computing net income (loss) per share attributed to common stockholders

     12,166,301       10,129,328       12,166,301       9,477,206  
   

 

 

    

 

 

    

 

 

    

 

 

  

Basic (loss) earnings per share

   $ (0.09 )    $ 0.03     $ (0.21 )    $ (0.20 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  
         

DILUTED

                                

Net income (loss)

   $ (1,146 )    $ 294     $ (2,553 )    $ (1,912 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Net (loss) income available to common shareholders

   $ (1,146 )    $ 294     $ (2,553 )    $ (1,912 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Weighted average shares outstanding

     12,166,301       10,129,328       12,166,301       9,477,206  

Dilutive impact of stock plans

     —         120,850       —         —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Dilutive shares outstanding

     12,166,301       10,250,178       12,166,301       9,477,206  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings (loss) per share

   $ (0.09 )    $ 0.03     $ (0.21 )    $ (0.20 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Potentially dilutive securities representing 3.6 million and 1.9 million weighted average shares of common stock were excluded for the three months ended June 30, 2012 and 2011, respectively, and potentially dilutive securities representing 3.6 million and 1.7 million weighted average shares of common stock were excluded for the six months ending June 30, 2012 and 2011, respectively, because including them would have an anti-dilutive effect on net loss per share.