Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Earnings per share has been computed in accordance with the Earnings Per Share Topic of the ASC. Basic earnings per share of the Company is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding 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 restricted 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):

	Three Months Ended September 30,				Predecessor Company
	2012	2011	Nine Months Ended September 30, 2012	Two Hundred Forty-Nine Days Ended September 30, 2011	Twenty- Four Days Ended January 24, 2011
Weighted average number of common shares used for basic earnings per share	25,993	25,843	25,970	25,836	89,424
Effect of potential dilutive shares	—	—	—	—	271
Weighted average number of common shares and potential dilutive shares used for diluted earnings per share	25,993	25,843	25,970	25,836	89,695
Anti-dilutive shares outstanding at period-end that are excluded from the above reconciliation	4,853	4,818	4,853	4,818	712

Weighted average number of common shares used for basic earnings per share excludes 242,844, 353,584, 246,351, 356,222 and 16,666 weighted average shares of non-vested restricted stock as of the three months ended September 30, 2012 and 2011, the nine months ended September 30, 2012, the 249 days ended September 30, 2011 and the 24 days ended January 24, 2011, respectively. Since the Company incurred a loss for the three months ended September 30, 2012 and 2011, the nine months ended September 30, 2012 and the 249 days ended September 30, 2011, all potentially dilutive securities are anti-dilutive for these periods and are, therefore, excluded from the determination of diluted earnings per share. Anti-dilutive shares outstanding at period-end that are excluded from the above reconciliation include Warrants and non-vested restricted stock and stock options issued under the Long Term Incentive Plan.