Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (EPS)

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Earnings Per Share (EPS)
3 Months Ended
Jun. 30, 2012
Earnings Per Share (EPS) [Abstract]  
Earnings Per Share (EPS)
4.      Earnings Per Share (EPS):

Basic EPS is computed by dividing net income (loss) available to common stockholders (numerator) by the weighted average number of common shares outstanding (denominator) for the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period. The computation of diluted EPS uses the average market prices during the period.

Basic net loss per common share is computed using the weighted-average number of shares of common stock outstanding.

The following table represents the calculation of basic and diluted net loss per common share (in thousands, except per share data):

 
Three Months Ended
 
 
June 30,
 
 
2012
 
 
2011
 
 
 
 
 
 
 
(Loss) from continuing operations
 
$
(678
)
 
$
(992
)
 
 
 
 
 
 
 
 
(Loss) from discontinued operations, net of taxes
 
 
(1
)
 
 
(2
)
 
 
 
 
 
 
 
 
Net (loss) applicable to common stockholders
 
$
(679
)
 
$
(994
)
Basic and diluted:
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding
 
 
1,689
 
 
 
1,689
 
 
 
 
 
 
 
 
 
Net (loss) per share:
 
 
 
 
 
 
 
 
Basic and diluted
 
$
(0.40
)
 
$
(0.59
)
 
Outstanding options, RSUs and ESPP's of 374,833 and 422,177 shares of common stock at a weighted-average exercise price per share of $8.80 and $8.74 on June 30, 2012 and 2011, respectively, were not included in the computation of diluted net (loss) income per common share for the three month periods presented as a result of their anti-dilutive effect.  Also 8,825 liability warrants with an average exercise price of $32.27 and 137,466 warrants with an average exercise price of $3.15 were not included in the computation of diluted net loss per common share.  Such securities could potentially dilute earnings per share in future periods.