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Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2012
Earnings (Loss) Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

NOTE 16 – EARNINGS (LOSS) PER SHARE

The factors used in the earnings (loss) per share computation follow:

 

                         
    2012     2011     2010  

Basic

                        

Net income (loss) attributable to common shares

   $ 11,505,000     $ 36,142,000     $ (14,611,000 ) 
   

 

 

    

 

 

    

 

 

  
       

Weighted average common shares outstanding

     8,625,198       8,602,845       8,507,572  
   

 

 

    

 

 

    

 

 

  
       

Basic earnings (loss) per common share

   $ 1.33     $ 4.20     $ (1.72 ) 
   

 

 

    

 

 

    

 

 

  
       

Diluted

                        

Net income (loss) attributable to common shares

   $ 11,505,000     $ 36,142,000     $ (14,611,000 ) 
   

 

 

    

 

 

    

 

 

  
       

Weighted average common shares outstanding for basic earnings (loss) per common share

     8,625,198       8,602,845       8,507,572  
       

Add: Dilutive effects of share-based awards

     224,429       275,335       0  
   

 

 

    

 

 

    

 

 

  
       

Average shares and dilutive potential common shares

     8,849,627       8,878,180       8,507,572  
   

 

 

    

 

 

    

 

 

  
       

Diluted earnings (loss) per common share

   $ 1.30     $ 4.07     $ (1.72 ) 
   

 

 

    

 

 

    

 

 

  

Stock options for approximately 132,000 shares of common stock were antidilutive and were not included in determining dilutive earnings per share in 2012.

Stock options for approximately 167,000 shares of common stock were antidilutive and were not included in determining dilutive earnings per share in 2011.

Due to our net loss in 2010, approximately 74,000 unvested restricted shares were not included in determining both basic and diluted earnings per share. In addition, stock options and a stock warrant for approximately 262,000 and 616,000 shares of common stock, respectively, were antidilutive and were not included in determining diluted earnings per share. Weighted average diluted common shares outstanding equals the weighted average basic common shares outstanding during 2010 due to the net loss recorded during the period.