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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2013
Earnings (loss) per share  
NOTE 7. EARNINGS PER SHARE

We compute basic earnings per share (“basic EPS”) by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares outstanding (primarily stock options). The following table provides the computation of basic and diluted earnings per share for the three and six month periods ending June 30, 2013 and 2012.

 

   

Three Months Ended

June 30,

    

Six Months Ended

June 30,

  
(in thousands, except EPS)   2013     2012     2013     2012  
                         
Net income (loss)   $ (1,119 )   $ 152     $ (1,529 )   $ 339  
                                 
Basic weighted average shares outstanding     17,669       17,629       17,660       17,625  
Effect of potential dilutive securities     --       139       --       144  
Diluted weighted average shares outstanding     17,669       17,768       17,660       17,769  
                                 
Basic earnings (loss) per share   $ (0.06 )   $ 0.01     $ (0.09 )   $ 0.02  
                                 
Diluted earnings (loss) per share   $ (0.06 )   $ 0.01     $ (0.09 )   $ 0.02  

 

For the six months ended June 30, 2013 and 2012, options and warrants to purchase approximately 2.3 million and 1.3 million shares of common stock respectively, were excluded from the computation of diluted earnings per share because their effects were anti-dilutive.