EXHIBIT 11
Net Income (Loss) per Common and Common Equivalent Share
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| Three Months Ended |
| Six Months Ended |
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| June 30, |
| June 30, |
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| 2006 |
| 2005 |
| 2006 |
| 2005 |
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BASIC |
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Weighted average common shares used to compute basic earnings per share |
| 8,199,000 |
| 8,106,000 |
| 8,122,000 |
| 8,090,000 |
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Net income |
| $ | 360,000 |
| $ | 440,000 |
| $ | 445,000 |
| $ | 716,000 |
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Basic net income per share |
| 0.04 |
| 0.05 |
| 0.05 |
| 0.09 |
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DILUTED |
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Weighted average common shares used to compute basic earnings per share |
| 8,199,000 |
| 8,106,000 |
| 8,122,000 |
| 8,090,000 |
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Dilutive common equivalent shares attributable to stock options (based on average market price) |
| 924,000 |
| 554,000 |
| 826,000 |
| 568,000 |
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Dilutive common equivalent shares attributable to warrants (based on average market price) |
| 202,000 |
| 146,000 |
| 192,000 |
| 149,000 |
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Weighted average common shares used to compute diluted earnings per share |
| 9,325,000 |
| 8,806,000 |
| 9,140,000 |
| 8,807,000 |
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Net income |
| $ | 360,000 |
| $ | 440,000 |
| $ | 445,000 |
| $ | 716,000 |
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Dilutive net income per share |
| 0.04 |
| 0.05 |
| 0.05 |
| 0.08 |
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