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Earnings (Loss) Per Common Share
 12 Months Ended
Dec. 31, 2011
Earnings (Loss) Per Common Share [Abstract]  
Earnings (Loss) Per Common Share
(23) Earnings (Loss) Per Common Share

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

Our potentially dilutive securities include potential common shares related to our stock options and restricted stock. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted earnings per share excludes the impact of common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. There were 652,000 potential common shares excluded from diluted earnings per share for the year ended December 31, 2011, because the effect of inclusion would be anti-dilutive. All potential common shares were excluded from earnings per share for the year ended December 31, 2010 because the effect of inclusion would be anti-dilutive.

A reconciliation of the weighted average shares outstanding used in the calculation of basic and diluted earnings (loss) per common share is as follows (in thousands):

 

                 
     Years ended
December 31,		  
     2011     2010  

Earnings attributable to stockholders:

                 

Income (loss) from continuing operations attributable to stockholders

    $ 8,435      $ (9,708 ) 

Discontinued operations, net of tax

      (528 )      (496 ) 
    

 

 

    

 

 

  
     

Net income (loss)

    $ 7,907      $ (10,204 ) 

Less distributed and undistributed earnings allocable to restricted award holders

      (399 )      —     
    

 

 

    

 

 

  
     

Net income (loss) allocable to common stockholders

    $ 7,508      $ (10,204 ) 
    

 

 

    

 

 

  

Basic earnings (loss) per common share attributable to stockholders:

                 

Continuing operations

    $ 0.43      $ (0.52 ) 

Discontinued operations

      (0.03 )      (0.03 ) 
    

 

 

    

 

 

  
     

Net income (loss)

    $ 0.40      $ (0.55 ) 
    

 

 

    

 

 

  
     

Diluted earnings (loss) per common share attributable to stockholders:

                 

Continuing operations

    $ 0.43      $ (0.52 ) 

Discontinued operations

      (0.03 )      (0.03 ) 
    

 

 

    

 

 

  
     

Net income (loss)

    $ 0.40      $ (0.55 ) 
    

 

 

    

 

 

  
     

Weighted average shares outstanding – basic

      18,823        18,605   

Weighted average additional shares assuming conversion of potential common shares

      185        —     
    

 

 

    

 

 

  
     

Weighted average shares outstanding – diluted

      19,008        18,605