Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

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Earnings Per Share
 6 Months Ended
Jun. 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
June 30,		     Six Months Ended
June 30, 		 
    2012     2011     2012     2011  
         

Net income (loss)

   $ (668 )    $ 2,447     $ 72     $ 3,851  
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Basic number of weighted-average shares outstanding

     32,149,957       31,591,412       32,004,386       31,502,139  

Effect of dilutive shares:

                                

Options to purchase common stock

     —         1,082,818       900,085       1,112,797  

Common warrants

     —         295,594       144,076       297,980  

Unvested restricted stock

     —         —         6,085       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted number of weighted-average shares outstanding

     32,149,957       32,969,824       33,054,632       32,912,916  
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Net income (loss) per share:

                                

Basic

   $ (0.02 )    $ 0.08     $ 0.00     $ 0.12  
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Diluted

   $ (0.02 )    $ 0.07     $ 0.00     $ 0.12  
   

 

 

    

 

 

    

 

 

    

 

 

  

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
June  30, 		    Six Months Ended
June  30, 		 
    2012     2011     2012     2011  
         

Options to purchase common stock

     5,374,040       —         1,227,248       —    

Common warrants

     1,388,888       —         —         —    

Unvested restricted stock

     765,970       —         755,970       —