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Earnings/(Loss) Per Share
12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings/(Loss) Per Share

NOTE D — Earnings/(Loss) Per Share

The table below provides a reconciliation of the numerator and denominator of the basic and diluted earnings/(loss) per share (“EPS”) computations. Basic earnings/(loss) per share is calculated using the weighted average number of common shares outstanding as the denominator and net earnings/(loss) as the numerator. Diluted earnings/(loss) per share is calculated by adding all potentially dilutive shares to the weighted average number of common shares outstanding for the numerator. All anti-dilutive shares are excluded from the computation of diluted earnings/(loss) per share.

 

The calculations below provide net earnings/(loss), average common shares outstanding, and the resultant earnings/(loss) per share for both basic and diluted EPS for the years ended December 31, 2011, 2010, and 2009.

 

                         

($ in thousands, except
per share amounts)

 

 

Net Earnings
(Numerator)

 

   

Shares

(In thousands)
(Denominator)

 

   

Per Share
Amount

 

 

 

 

2011

                       

Basic EPS

  $ 20,967       34,321     $ 0.61  

Effect of dilutive securities:

                       

Equity-based compensation plans

          685          

 

 

Diluted EPS

  $ 20,967       35,006     $ 0.60  

 

 

2010

                       

Basic EPS

  $ 22,038       34,090     $ 0.65  

Effect of dilutive securities:

                       

Equity-based compensation plans

          759        

 

 

Diluted EPS

  $ 22,038       34,849     $ 0.63  

 

 

2009

                       

Basic EPS

  $ (34,050     33,823     $ (1.01

Effect of dilutive securities:

                       

Equity-based compensation plans

                 

 

 

Diluted EPS

  $ (34,050     33,823     $ (1.01

 

 

The following table shows the securities that could potentially dilute EPS in the future, but have been excluded from the 2011, 2010, and 2009 diluted earnings/(loss) per share calculations because they are either anti-dilutive or the exercise price exceeds the average market price.

 

                         
    Year ended
December 31,
 

(Number of shares in thousands)

 

 

2011

 

   

2010

 

   

2009

 

 

 

 

Stock options

    539       587       1,179  

Restricted stock units

                1,103  

Securities related to the subordinated convertible debt

                738