Earnings Per Share

5 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

(10) Earnings Per Share

     Earnings per share has been computed in accordance with the Earnings Per Share Topic of the ASC. On the Effective Date, the Company adopted the Long Term Incentive Plan and entered into the Warrant Agreement. Awards pursuant to these agreements were evaluated for qualification as participating securities for inclusion in the calculation of basic earnings per share under the two-class method. It was determined that restricted shares of common stock under the Long Term Incentive Plan do qualify as participating securities although holders of these awards do not have a contractual obligation to share in losses of the Company. Accordingly, in a loss position, basic earnings per share of the Company is computed by dividing net loss by the weighted average number of shares of common stock outstanding for the period. In an income position, basic earnings per share of the Company is computed by dividing net income by the weighted average number of shares of common stock outstanding and participating securities for the period. Except when the effect would be anti-dilutive, the diluted earnings per share calculation calculated using the treasury stock method includes the impact of stock units, shares of non-vested common stock and shares that could be issued under outstanding stock options.

     The following table provides a reconciliation of the common shares used for basic earnings per share and diluted earnings per share (in thousands):

	Successor		Predecessor		Successor
	Company		Company		Company		Predecessor Company
					One
					Hundred
	Three Months		Three		Fifty-Seven		Twenty-Four Days		Six Months
	Ended		Months		Days Ended		Ended		Ended
	June 30, 2011		June 30, 2010		June 30, 2011		January 24, 2011		June 30, 2010
			(Restated)						(Restated)
Weighted average number of common shares used for basic earnings per share		25,652		89,424		25,644		89,424		89,424
Effect of potential dilutive shares		—		—		—		271		—
Weighted average number of common shares and potential dilutive shares used for diluted earnings per share		25,652		89,424		25,644		89,695		89,424
Anti-dilutive shares excluded from the above reconciliation		5,006		2,535		5,006		712		2,535

     Weighted average number of common shares used for basic earnings per share excludes 543,641, 545,386, 16,666, 565,476 and 565,476 shares of restricted non-vested stock as of the three months ended June 30, 2011, the 157 days ended June 30, 2011, the 24 days ended January 24, 2011 and the three and six months ended June, 30, 2010, respectively. Since the Company incurred a loss for the three months ended June 30, 2011, the 157 days ended June 30, 2011 and the three and six months ended June 30, 2010, all potentially dilutive securities are anti-dilutive for these periods and are, therefore, excluded from the determination of diluted earnings per share.