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Shares Outstanding and Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Shares Outstanding and Earnings Per Share [Abstract]  
Shares Outstanding and Earnings Per Share
16. Shares Outstanding and Earnings Per Share:

Earnings per share have been calculated based on the weighted average number of shares outstanding as set forth below:

 

                         
    2011     2010     2009  
(in thousands, except per share data)                  

Weighted average basic shares outstanding

     10,937       10,905       10,887  

Assumed exercise of stock options and issuance of stock awards

     14       13       —    
   

 

 

    

 

 

    

 

 

  

Weighted average diluted shares outstanding

     10,951       10,918       10,887  
   

 

 

    

 

 

    

 

 

  

Net income (loss)

   $ 24,970     $ 2,132     $ (61,228 ) 

Basic earnings (loss) per share

   $ 2.28     $ 0.20     $ (5.62 ) 
   

 

 

    

 

 

    

 

 

  

Diluted earnings (loss) per share

   $ 2.28     $ 0.20     $ (5.62 ) 
   

 

 

    

 

 

    

 

 

  

Anti-dilutive securities outstanding

     61       101       149