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Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share
10. Earnings per Share

Earnings (loss) per basic and diluted weighted average common share outstanding was calculated as follows for the three and six months ended June 30, 2011 and 2010:

 

                                 
     Three Months Ended June 30,     Six Months Ended June 30,  
     2011      2010     2011      2010  

Net income (loss) (in thousands)

    $ 4,977       $ (3,138 )    $ 7,909       $ (2,650 ) 
    

 

 

     

 

 

    

 

 

     

 

 

  

Basic weighted-average common shares outstanding

      9,326,873         9,278,396        9,315,739         9,263,899   

Effect of potentially dilutive common shares(1)

     28,508         —          32,757         —     
    

 

 

     

 

 

    

 

 

     

 

 

  

Diluted weighted-average common shares outstanding

      9,355,381         9,278,396        9,348,496         9,263,899   
    

 

 

     

 

 

    

 

 

     

 

 

  

Earnings (loss) per common share:

                                   

Earnings (loss) per basic common share

    $ 0.53       $ (0.34 )    $ 0.85       $ (0.29 ) 

Earnings (loss) per diluted common share

    $ 0.53       $ (0.34 )    $ 0.85       $ (0.29 ) 

Antidilutive shares not included in diluted common share calculation

      34,000         49,307        45,801         25,534   

 

(1)

Represents the effect of the assumed exercise of stock options and the vesting of restricted stock units and performance stock awards, based on the treasury stock method