EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
(in thousands, except per share data)
(a) | Computation of the weighted average number of shares of common stock outstanding for the fiscal years ended the years ended December 31, 2007, 2008 and 2009. |
Shares of Common Stock | Weighted Shares Outstanding | |||||||
January 1, 2007 to December 31, 2007 | 12,960 | 12,960 | ||||||
Shares issued on exercise of stock options | 134 | 100 | ||||||
Shares issued under Directors Stock Plan | 6 | 1 | ||||||
Shares issued in connection with purchase of Airdesk, Inc. | 100 | 75 | ||||||
Shares issued in connection with purchase of Orbit One, Inc. | 320 | 1 | ||||||
Total | 13,520 | 13,137 | ||||||
January 1, 2008 to December 31, 2008 | 13,520 | 13,520 | ||||||
Shares issued on exercise of stock options | 27 | 13 | ||||||
Shares issued under Directors Stock Plan | 12 | 6 | ||||||
Shares issued in connection with purchase of assets of Airdesk, Inc. | 200 | 200 | ||||||
Shares issued in connection with purchase of Ublip, Inc. | 405 | 405 | ||||||
Total | 14,164 | 14,144 | ||||||
January 1, 2009 to December 31, 2009 | 14,164 | 14,144 | ||||||
Shares issued on exercise of stock options | 44 | 22 | ||||||
Shares issued under Directors Stock Plan | 25 | 14 | ||||||
Shares issued in connection with debt conversion | 889 | 256 | ||||||
Treasury share repurchase | (40 | ) | (27 | ) | ||||
Total | 15,082 | 14,409 | ||||||
(b) Computation of Earnings per Share
Computation of earnings per share is net earnings (loss) divided by the weighted average number of shares of common stock outstanding for the years ended December 31, 2007, 2008 and 2009.
2007 | 2008 | 2009 | ||||||||||
Net earnings (loss) | $ | 440 | $ | (10,975 | ) | $ | (5,829 | ) | ||||
Weighted average number of shares of common stock outstanding | 13,137 | 14,144 | 14,409 | |||||||||
Basic earnings per share | $ | 0.03 | $ | (0.78 | ) | $ | (0.40 | ) | ||||
Diluted earnings per share | $ | 0.03 | $ | (0.78 | ) | $ | (0.40 | ) |