Net Income (Loss) per Common Share

6 Months Ended

Jun. 30, 2013

Basic net income (loss) per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share incorporates the dilutive effect of common stock equivalent options, warrants and other convertible securities, if any, as determined with the treasury stock accounting method. Common stock equivalents related to options and restricted stock awards for 487,156 and 1,075,765 shares of common stock for the three months ended June 30, 2013 and 2012, respectively, have been excluded from the fully diluted calculation of net income per share, as inclusion would be anti-dilutive. Common stock equivalents related to options and restricted stock awards for 481,990 shares of common stock for the six months ended June 30, 2013 have been excluded from the fully diluted calculation of net income per share, as inclusion would be anti-dilutive. The Company has excluded all outstanding stock options and non-vested restricted shares from the calculation of diluted earnings per share for the six months ended June 30, 2012 because the net loss causes these outstanding stock options and non-vested restricted shares to be anti-dilutive.

A reconciliation of the basic and diluted weighted average common shares outstanding is as follows:



	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2013	2012	2013	2012
Weighted average common shares outstanding—basic	15,136,568	14,776,239	15,063,315	14,690,591
Dilutive common shares issuable in connection with stock plans	98,330	110,309	189,973	—
Weighted average common shares outstanding—diluted	15,234,898	14,886,548	15,253,288	14,690,591

- Definition

The entire disclosure for earnings per share.

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