Earnings Per Share

6 Months Ended

Jun. 30, 2011

7. EARNINGS PER SHARE

Basic earnings (loss) per share considers only weighted average outstanding common shares in the computation. Diluted earnings (loss) per share give effect to all potentially dilutive securities. Diluted earnings (loss) per share is based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options using the treasury stock method and the assumed conversion of other convertible securities (using the "if converted" method) at the beginning of the year, or for the period outstanding during the year for current year issuances. Weighted average shares outstanding for the three and six months ended June 30, 2011 and 2010 were as follows:

	For the three months				For the six months
	ended June 30,				ended June 30,
	2011		2010		2011		2010
Weighted average common shares, basic		23,717,165		23,815,936		23,714,215		23,815,936
Dilutive effect of stock options		308,930		0		301,732		0
Weighted average common shares, diluted		24,026,095		23,815,936		24,015,947		23,815,936

The following shares of restricted stock and stock options are anti-dilutive and have not been included in the weighted average shares outstanding calculation:

	For the three months				For the six months
	ended June 30,				ended June 30,
	2011		2010		2011		2010
Unvested restricted stock		160,000		280,000		160,000		280,000
Stock options		886,710		1,278,594		886,710		1,278,594

- Definition

The entire disclosure for earnings per share.

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