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Income (Loss) Per Common Share
 6 Months Ended
Jun. 30, 2011
Income (Loss) Per Common Share  
Income (Loss) Per Common Share

NOTE F — INCOME (LOSS) PER COMMON SHARE

Basic income (loss) per common share has been computed by dividing net income (loss) by the weighted-average number of shares of the Company's common stock outstanding. Diluted income (loss) per common share adjusts net income (loss) and basic income (loss) per common share for the effect of all potentially dilutive shares of the Company's common stock. The calculations of basic and diluted income (loss) per common share for the three and six month periods ended June 30, 2011 and 2010 are as follows:

 

     Three Months Ended
June 30,		     Six Months Ended
June 30,		  
     2011      2010     2011      2010  
     (in thousands, except per share amounts)  

Net income (loss) - basic

    $ 2,063       $ (981 )    $ 1,114       $ (252 ) 

Net interest expense, 4.75% Convertible Senior Notes

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Net income (loss) - diluted

    $ 2,063       $ (981 )    $ 1,114       $ (252 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Weighted-average shares outstanding – basic

      12,070         12,027        12,068         12,021   

Effect of dilutive securities:

           

Stock options

      416         —          427         —     

4.75% Convertible Senior Notes

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Weighted-average shares outstanding – diluted

      12,486         12,027        12,495         12,021   
  

 

 

     

 

 

    

 

 

     

 

 

  

Basic income (loss) per common share

    $ 0.17       $ (0.08 )    $ 0.09       $ (0.02 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Diluted income (loss) per common share

    $ 0.17       $ (0.08 )    $ 0.09       $ (0.02 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

The computation of diluted income (loss) per common share for the three months ended June 30, 2011 and 2010 excludes: (i) options to purchase 1,146,150 shares and 2,310,650 shares, respectively; and (ii) 860,714 shares and 2,405,141 shares of the Company's common stock issuable upon the conversion of the Company's Notes and related interest expense, respectively. The computation of diluted income (loss) per common share for the six months ended June 30, 2011 and 2010 excludes: (i) options to purchase 1,756,075 shares and 1,504,075 shares, respectively; and (ii) 860,714 shares and 2,541,101 shares of the Company's common stock issuable upon the conversion of the Company's Notes and related interest expense, respectively. The above shares were excluded due to their antidilutive effects.