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Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings (Loss) Per Share

(5) EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) 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 (loss) per share for the three months ended March 31, 2013 and 2012 is as follows:

 

 

 

 

 

Three months ended
March 31,

 

 

 

2013

2012

Basic:

 

 

Net (loss) income applicable to common stockholders             

$              (304)             

$              320             

Weighted average shares outstanding – basic             

              31,148.234             

              30,881,770             

Net (loss) income per share – basic             

$              (0.01)             

$              0.01             

Diluted:

 

 

Net (loss) income applicable to common stockholders             

$              (304)             

$              320             

Weighted average shares outstanding – basic             

              31,148,234             

              30,881,770             

Dilutive securities             

              -             

              155,647             

Weighted average shares outstanding – diluted             

              31,148,234             

              31,037,417             

Net (loss) income per share – diluted             

$              (0.01)             

$              0.01             

Potential common share equivalents as of March 31, 2012 of 1,187,500 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 effects of potential common stock equivalents, related to certain outstanding options for the three months ended March 31, 2013 of 1,237,000 shares have not been included in the computation of diluted net loss per share because the impact of the potential shares would decrease the loss per share.