The following table sets forth the computation of basic and diluted earnings per share:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2012 |
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2011 |
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2012 |
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2011 |
(a) Net income (loss) |
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$ |
(1,105 |
) |
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$ |
8,406 |
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$ |
3,182 |
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$ |
32,445 |
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(b) Weighted average shares outstanding |
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39,575 |
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39,322 |
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39,441 |
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37,431 |
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Dilutive impact of stock options |
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— |
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16 |
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10 |
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22 |
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Dilutive impact of restricted stock |
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— |
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638 |
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792 |
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667 |
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(c) Weighted average shares outstanding for diluted net income (loss) per share |
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39,575 |
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39,976 |
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40,243 |
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38,120 |
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Basic net income (loss) per share (a¸b) |
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$ |
(0.03 |
) |
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$ |
0.21 |
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$ |
0.08 |
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$ |
0.87 |
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Diluted net income (loss) per share (a¸c) |
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$ |
(0.03 |
) |
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$ |
0.21 |
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$ |
0.08 |
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$ |
0.85 |
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The following underlying shares associated with the following instruments were excluded from the diluted EPS calculation because their effect would be anti-dilutive: |
Stock options |
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52 |
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67 |
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52 |
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82 |
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Restricted stock |
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105 |
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766 |
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105 |
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766 |
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