|
7. |
EARNINGS (LOSS) PER SHARE |
The reconciliation of the numerators and denominators of the basic and diluted EPS is as follows:
| |
|
Three Months Ended |
|
|
Nine Months Ended |
|
| (Amounts in thousands, |
|
September 30, |
|
|
September 30, |
|
| except per share data) |
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss) |
|
$ |
(751 |
) |
|
$ |
(7,436 |
) |
|
$ |
(5,180 |
) |
|
$ |
(21,410 |
) |
| Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preferred stock dividends |
|
|
(250 |
) |
|
|
(250 |
) |
|
|
(750 |
) |
|
|
(750 |
) |
| Accretion on preferred stock discount |
|
|
(14 |
) |
|
|
(14 |
) |
|
|
(41 |
) |
|
|
(41 |
) |
| Net (loss) attributable to common shareholders |
|
$ |
(1,015 |
) |
|
$ |
(7,700 |
) |
|
$ |
(5,971 |
) |
|
$ |
(22,201 |
) |
| Weighted average common shares |
|
|
4,773 |
|
|
|
4,747 |
|
|
|
4,767 |
|
|
|
4,741 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average common shares |
|
|
4,773 |
|
|
|
4,747 |
# |
|
|
4,767 |
|
|
|
4,741 |
|
| Dilutive effect of stock options and warrants |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Weighted average common and incremental shares |
|
|
4,773 |
|
|
|
4,747 |
|
|
|
4,767 |
|
|
|
4,741 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings (Loss) Per Common Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(0.21 |
) |
|
$ |
(1.62 |
) |
|
$ |
(1.25 |
) |
|
$ |
(4.68 |
) |
| Diluted |
|
$ |
(0.21 |
) |
|
$ |
(1.62 |
) |
|
$ |
(1.25 |
) |
|
$ |
(4.68 |
) |
Since the Corporation is reporting a net loss for all periods presented, no stock options or warrants were evaluated for dilutive purposes. |