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Income (Loss) Per Common Share
 6 Months Ended
Jun. 30, 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 and six month periods ended June 30, 2013 and 2012 are as follows:

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2013     2012      2013     2012  
     (in thousands, except per share amounts)  

Net income (loss) – basic and diluted

    $ (568 )    $ 559        (1,200 )   $ 1,903   

Weighted-average shares outstanding – basic

      12,808        12,469        12,784       12,450   

Effect of dilutive securities:

          

Stock options

      —          308        —          321   
  

 

 

    

 

 

     

 

 

    

 

 

  

Weighted-average shares outstanding – diluted

      12,808        12,777        12,784       12,771   
  

 

 

    

 

 

     

 

 

    

 

 

  

Basic income (loss) per common share

    $ (0.04 )    $ 0.04      $ (0.09 )   $ 0.15   
  

 

 

    

 

 

     

 

 

    

 

 

  

Diluted income (loss) per common share

    $ (0.04 )    $ 0.04      $ (0.09 )   $ 0.15   
  

 

 

    

 

 

     

 

 

    

 

 

  

The computation of diluted income (loss) per common share for the three months ended June 30, 2013 and 2012 excludes options to purchase 2,476,800 shares and options to purchase 1,638,250 shares, respectively. The computation of diluted income (loss) per common share for the six months ended June 30, 2013 and 2012 excludes options to purchase 2,497,790 shares and options to purchase 1,413,525 shares, respectively. The above shares were excluded due to their antidilutive effects.