3. Earnings Per Share
The following table sets forth the computation of basic and diluted
earnings (loss) per share for the years ended
December 31, 2013, 2012 and 2011 (in thousands except per
share amounts):
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Year Ended
December 31, |
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2013 |
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2012 |
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2011 |
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Numerator:
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Basic and diluted earnings (loss) per share:
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Income (loss) from continuing operations
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$ |
43,270 |
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$ |
20,504 |
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$ |
(33,194 |
) |
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(Loss) from discontinued operations
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(691 |
) |
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(101 |
) |
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(1,698 |
) |
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Net income (loss)
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$ |
42,579 |
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$ |
20,403 |
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$ |
(34,892 |
) |
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Denominator:
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Weighted average shares outstanding for basic earnings per
share
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50,004 |
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38,477 |
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18,757 |
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Effects of dilutive instruments
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257 |
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219 |
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— |
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Shares used in computing diluted earnings per common share
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50,261 |
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38,696 |
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18,757 |
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Basic net earnings (loss) per share:
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Income (loss) from continuing operations
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$ |
0.87 |
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$ |
0.53 |
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$ |
(1.77 |
) |
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Loss from discontinued operations
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(0.02 |
) |
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— |
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(0.09 |
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Net income (loss)
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$ |
0.85 |
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$ |
0.53 |
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$ |
(1.86 |
) |
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Diluted net earnings (loss) per share:
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Income (loss) from continuing operations
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$ |
0.86 |
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$ |
0.53 |
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$ |
(1.77 |
) |
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Loss from discontinued operations
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(0.01 |
) |
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— |
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(0.09 |
) |
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Net income (loss)
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$ |
0.85 |
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$ |
0.53 |
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$ |
(1.86 |
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Approximately 0.6 million, 0.4 million and
0.4 million shares of common stock issuable upon exercise of
outstanding stock options were excluded from the calculation of
diluted earnings per share for the year ended December 31,
2013, 2012 and 2011, respectively, because their effect would have
been anti-dilutive.
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