|
NOTE 3 – EARNINGS (LOSS) PER SHARE
| |
|
|
|
|
|
|
|
|
| |
|
Three Months Ended
March 31,
|
|
| |
|
2012 |
|
|
2011 |
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$ |
(338 |
) |
|
$ |
129 |
|
|
Less: Accretion of discount on preferred stock
|
|
|
(17 |
) |
|
|
(16 |
) |
|
Dividends on preferred stock
|
|
|
(95 |
) |
|
|
(95 |
) |
| |
|
|
|
|
|
|
|
|
|
Income (loss) available to common shareholders
|
|
$ |
(450 |
) |
|
$ |
18 |
|
| |
|
|
|
|
|
|
|
|
|
The number of shares used to compute basic and diluted loss per share were as follows:
|
|
|
|
|
|
|
|
|
| |
|
|
|
Weighted average shares outstanding
|
|
|
1,245,267 |
|
|
|
1,245,267 |
|
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
Stock options
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
Shares used to compute diluted earnings (loss) per share
|
|
|
1,245,267 |
|
|
|
1,245,267 |
|
| |
|
|
|
|
|
|
|
|
|
Earnings (loss) per share:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
(0.36 |
) |
|
$ |
0.02 |
|
|
Diluted
|
|
$ |
(0.36 |
) |
|
$ |
0.02 |
|
There were 32,330 and 32,730 anti-dilutive shares at March 31, 2012 and 2011, respectively.
|