Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2011

Earnings (Loss) Per Share

Earnings (Loss) Per Share

 

8. Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted-average number of common shares plus the effect of dilutive potential common shares outstanding during the period. Diluted earnings (loss) per share for the three months ended June 30, 2011 and 2010 excludes the impact of approximately 2.1 million and 3.0 million common stock equivalents, respectively, since the effect of including these securities would be anti-dilutive. Diluted earnings (loss) per share for the six months ended June 30, 2011 and 2010 excludes the impact of approximately 3.6 million and 9.1 million common stock equivalents, respectively, since the effect of including these securities would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per share (shares in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
	2011			2010		2011			2010
Numerator:
Income (loss) from continuing operations	$	28		$	12	$	8		$	(28	)
Convertible debt interest—1  7/8 percent notes		—			—		—			—
Income (loss) from continuing operations available to common stockholders		28			12		8			(28	)
Loss from discontinued operation		(1	)		—		(1	)		—
Net income (loss) available to common stockholders	$	27		$	12	$	7		$	(28	)
Denominator:
Denominator for basic earnings (loss) per share—weighted-average common shares		62,479			60,490		61,669			60,359
Effect of dilutive securities:
Employee stock options and warrants		914			332		1,537			—
Convertible subordinated notes—1  7/8  percent		1,015			5,275		—			—
Convertible subordinated notes—4 percent		9,080			1,006		9,377			—
Restricted stock units		564			588		710			—
Denominator for diluted earnings (loss) per share—adjusted weighted-average common shares		74,052			67,691		73,293			60,359
Basic earnings (loss) per share:
Income (loss) from continuing operations	$	0.45		$	0.20	$	0.12		$	(0.46	)
Loss from discontinued operation		(0.01	)		—	$	(0.01	)		—
Net income (loss)	$	0.44		$	0.20	$	0.11		$	(0.46	)
Diluted earnings (loss) per share:
Income (loss) from continuing operations	$	0.38		$	0.18	$	0.10		$	(0.46	)
Loss from discontinued operation		(0.01	)		—		(0.01	)		—
Net income (loss)	$	0.37		$	0.18	$	0.09		$	(0.46	)