Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
14. Earnings Per Share

Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share reflects the weighted average number of shares outstanding after the assumed conversion of all dilutive securities.

The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share:

 

                                 
    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2012     2011     2012     2011  

Net income

  $ 551     $ 1,925     $ 623     $ 5,776  
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic number of weighted-average shares outstanding

    32,296,636       31,760,998       32,102,386       31,589,279  

Effect of dilutive shares:

                               

Options to purchase common stock

    889,373       919,465       897,644       1,052,340  

Common warrants

    127,324       190,806       138,889       264,451  

Unvested restricted stock

    45,373       —         40,125       31,531  
   

 

 

   

 

 

   

 

 

   

 

 

 

Diluted number of weighted-average shares outstanding

    33,358,706       32,871,269       33,179,044       32,937,601  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income per share:

                               

Basic

  $ 0.02     $ 0.06     $ 0.02     $ 0.18  
   

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

  $ 0.02     $ 0.06     $ 0.02     $ 0.18  
   

 

 

   

 

 

   

 

 

   

 

 

 

Common share equivalents for securities that were anti-dilutive and therefore excluded from the computation of diluted earnings per share was as follows:

 

                                 
    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2012     2011     2012     2011  

Options to purchase common stock

    1,224,748       485,833       1,224,748       71,000  

Common warrants

    —         —         —         —    

Unvested restricted stock

    559,551       64,105       559,551       —