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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2013
Earnings (Loss) Per Share

(6) 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.

(6) EARNINGS (LOSS) PER SHARE (continued)

The calculation of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2013 and 2012 is as follows:

 

 

Three months ended

September 30,

 

Nine months ended

September 30,

 

2013

 

 

2012

 

 

2013

 

 

2012

Basic:

 

 

 

 

 

 

 

 

 

 

Net (loss) income applicable to common stockholders             

$

(738

)

 

$

  358

 

 

$

(2,758

)

 

$

  1,151

Weighted average shares outstanding – basic             

 

  31,148,234

 

 

 

  31,130,908

 

 

 

  31,148,234

 

 

 

  31,034,972

Net (loss) income per share – basic             

$

(0.02

)

 

$

  0.01

 

 

$

(0.09

)

 

$

  0.04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income applicable to common stockholders             

$

(738

)

 

$

  358

 

 

$

(2,758

)

 

$

  1,151

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding – basic             

 

  31,148,234

 

 

 

  31,130,908

 

 

 

  31,148,234

 

 

 

  31,034,972

Dilutive securities             

 

—

 

 

 

  185,928

 

 

 

—

 

 

 

  167,870

Weighted average shares outstanding – diluted             

 

  31,148,234

 

 

 

  31,316,836

 

 

 

  31,148,234

 

 

 

  31,202,842

Net (loss) income per share – diluted             

$

(0.02

)

 

$

  0.01

 

 

$

(0.09

)

 

$

  0.04

Potential common share equivalents as of September 30, 2012 of 1,061,375, related to certain outstanding stock options, were not included in the computation of diluted earnings per share during the three and nine months ended September 30, 2012 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 and nine months ended September 30, 2013 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.