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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2013
Earnings (loss) per share  
NOTE 6. 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 month and nine month periods ending September 30, 2013 and 2012.

 

  

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

(in thousands, except EPS)  2013  2012  2013
             
Net income (loss)   (341)   (7)   (1,870)  $331 
                     

Basic weighted average shares

outstanding

   17,678    17,634    17,666    17,628 
Effect of potential dilutive    securities   —      —      —      103 

Diluted weighted average

shares outstanding

   17,678    17,634    17,666    17,731 
                     
Basic EPS   (0.02)   —      (0.11)  $0.02 
                     
Diluted EPS   (0.02)   —      (0.11)  $0.02 
                     

 

For the nine months ended September 30, 2013 and 2012, options and warrants to purchase approximately 1.0 million and 0.8 million shares of common stock respectively, were excluded from the computation of diluted earnings per share because their effects were anti-dilutive.