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Income (Loss) Per Common Share
 3 Months Ended
Mar. 31, 2013
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 month periods ended March 31, 2013 and 2012 are as follows:

 

     Three Months Ended
March 31,		  
     2013     2012  
     (in thousands, except per share amounts)  

Net income (loss) – basic and diluted

    $ (632 )    $ 1,344   

Weighted-average shares outstanding – basic

      12,761        12,432   

Effect of dilutive securities:

     

Stock options

      —          333   
  

 

 

    

 

 

  

Weighted-average shares outstanding – diluted

      12,761        12,765   
  

 

 

    

 

 

  

Basic income (loss) per common share

    $ (0.05 )    $ 0.11   
  

 

 

    

 

 

  

Diluted income (loss) per common share

    $ (0.05 )    $ 0.11   
  

 

 

    

 

 

  

The computation of diluted income (loss) per common share for the three months ended March 31, 2013 and 2012 excludes options to purchase 2,518,780 shares and 1,188,800 shares, respectively. These shares were excluded due to their antidilutive effects.