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Earnings (Loss) per Share
 12 Months Ended
Dec. 31, 2012
Earnings (Loss) per Share

8. Earnings (Loss) per Share

Basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the year. For diluted earnings (loss) per common share, the denominator also includes the dilutive effect of outstanding restricted stock awards and restricted stock units determined using the treasury stock method. For years in which net losses are generated, the dilutive potential common shares are excluded from the calculation of diluted earnings per share as the effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):

 

     Year Ended December 31,  
     2012     2011      2010  

Numerators:

        

Amounts attributable to GSI Group Inc:

        

Income (loss) from continuing operations

    $ 22,434      $ 21,648       $ (19,973 ) 

Income (loss) from discontinued operations.

      (2,896 )      7,325         19,286   
  

 

 

    

 

 

     

 

 

  

Net income (loss)

    $ 19,538      $ 28,973       $ (687 ) 
  

 

 

    

 

 

     

 

 

  

Denominators:

        

Weighted average common shares outstanding—basic

      33,775        33,481         23,703   

Dilutive potential common shares(1)

      161        108         —     
  

 

 

    

 

 

     

 

 

  

Weighted average common shares outstanding—diluted

      33,936        33,589         23,703   
  

 

 

    

 

 

     

 

 

  

Antidilutive common shares excluded from above

      244        132         183   

Basic Earnings (Loss) per Common Share:

        

From continuing operations

    $ 0.66      $ 0.65       $ (0.84 ) 

From discontinued operations

    $ (0.08 )    $ 0.22       $ 0.81   

Basic earnings (loss) per share attributable to GSI Group Inc.

    $ 0.58      $ 0.87       $ (0.03 ) 

Diluted Earnings (Loss) per Common Share:

        

From continuing operations

    $ 0.66      $ 0.64       $ (0.84 ) 

From discontinued operations

    $ (0.08 )    $ 0.22       $ 0.81   

Diluted earnings (loss) per share attributable to GSI Group Inc.

    $ 0.58      $ 0.86       $ (0.03 ) 

 

(1) Due to the Company’s loss from continuing operations and net loss attributable to GSI Group Inc. for the year ended December 31, 2010, all potentially dilutive shares were excluded as their effect would have been anti-dilutive. The dilutive impact of 14 thousand shares for the year ended December 31, 2010 would not have an impact on earnings per common share from discontinued operations.