XML 53 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
(4) EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding and the number of dilutive potential common share equivalents during the period, calculated using the treasury-stock method.

The calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2012 and 2011 is as follows:

 

                                 
    Three months ended
September 30,
    Nine months ended
September 30,
 
    2012     2011     2012     2011  

Basic:

                               

Net income

  $ 358     $ 591     $ 1,151     $ 965  

Weighted average shares outstanding - basic

    31,130,908       30,794,268       31,034,972       30,727,720  

Net income per share - basic

  $ 0.01     $ 0.02     $ 0.04     $ 0.03  
         

Diluted:

                               

Net income

  $ 358     $ 591     $ 1,151     $ 965  
         

Weighted average shares outstanding - basic

    31,130,908       30,794,268       31,034,972       30,727,720  

Dilutive securities

    185,928       218,744       167,870       250,213  

Weighted average shares outstanding - diluted

    31,316,836       31,013,012       31,202,842       30,977,933  

Net income per share - diluted

  $ 0.01     $ 0.02     $ 0.04     $ 0.03  

Potential common share equivalents as of September 30, 2012 and September 30, 2011 of 1,061,375 and 1,116,000, respectively, related to certain outstanding stock options, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive, as the option exercise prices exceeded the average market price of the Company's common stock. The effect of these shares, if any, on the diluted earnings per share calculation may vary significantly depending on fluctuations in the stock price.

The Company has reserved 3,000,000 shares of common stock for issuance under its 2005 Stock Option Plan (the “Option Plan”). Vesting provisions are determined by the Board of Directors. All stock options under the Option Plan expire no later than ten years from the date of grant.