Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2012

Net Income (Loss) Per Common Share [Abstract]

Net Income (Loss) Per Common Share

NOTE 3.NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per share is calculated by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is calculated by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period, plus dilutive common shares for the period determined using the treasury-stock method. For purposes of this calculation, options to purchase stock are considered to be potential common shares and are only included in the calculation of diluted net income (loss) per share when their effect is dilutive. Basic and diluted earnings per share are calculated as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except for per share amounts)	2012		2011		2012		2011
Numerator:
Net income (loss)	$	(15,780)	$	(5,679)	$	(24,582)	$	93,138
Denominator for basic net income (loss) per share		55,787		54,056		55,671		53,707
Net effect of dilutive common stock equivalents		—		—		—		2,176
Denominator for diluted net income (loss) per share:		55,787		54,056		55,671		55,883
Basic net income (loss) per share	$	(0.28)	$	(0.11)	$	(0.44)	$	1.73
Diluted net income (loss) per share	$	(0.28)	$	(0.11)	$	(0.44)	$	1.67

For the three and six months ended June 30, 2012, 5.5 million common stock equivalents were not included in dilutive shares because their effect is anti-dilutive. For the three and six months ended June 30, 2011, the total number of antidilutive outstanding common stock equivalents excluded from the diluted net income per share computation was 4.0 million and 0.8 million, respectively.