Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2012

Net Income (Loss) Per Share [Abstract]

Net Income (Loss) Per Share

12. Net Income (Loss) Per Share

FASB ASC 260, Earnings Per Share, specifies the computation, presentation and disclosure requirements for earnings per share (“EPS”). Basic EPS are computed using the weighted average number of shares outstanding. Diluted EPS are computed using the weighted average number of shares outstanding adjusted for the incremental shares attributed to outstanding securities with a right to purchase or convert into common stock.

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data).

	Year Ended December 31,			Six Months Ended December 31,			Year Ended June 30,
	2012			2011			2011			2010
Net income (loss)	$	(9,040	)	$	(29,437	)	$	(56,780	)	$	7,040
Weighted average common basic shares		40,861			47,707			48,171			47,961
Effect of dilutive securities		—			—			—			457
Weighted average common dilutive shares		40,861			47,707			48,171			48,418
Basic net income (loss) per share	$	(0.22	)	$	(0.62	)	$	(1.18	)	$	0.15
Diluted net income (loss) per share	$	(0.22	)	$	(0.62	)	$	(1.18	)	$	0.15

For each of the year ended December 31, 2012, the six months ended December 31, 2011 and the year ended June 30, 2011, the computation of diluted net loss per share did not include 0.1 million shares of unvested restricted common stock as their inclusion would have been anti-dilutive. For the year ended June 30, 2010, the computation of diluted net income per share included 0.5 million shares of unvested restricted common stock. Options to purchase 1.6 million, 4.5 million, 4.5 million and 4.6 million shares for the year ended December 31, 2012, the six months ended December 31, 2011 and the years ended June 30, 2011 and 2010, respectively, were not included in the computation of diluted net income (loss) per share as their exercise prices were in excess of the average stock prices for the periods presented.