Income (Loss) Per Share of Common Stock

6 Months Ended

May 31, 2012

Income (Loss) Per Share of Common Stock [Abstract]

Income (Loss) Per Share of Common Stock

2. Income (Loss) Per Share of Common Stock

A reconciliation of the numerator and denominator used to calculate basic and diluted income (loss) per share of common stock (“EPS”) is presented in the following table:

	Three months ended May 31,					Six months ended May 31,
	2012(1)		2011(1)			2012(1)		2011(1)
	(In millions, except per share amounts; shares in thousands)
Numerator:
Income from continuing operations	$	1.3	$	0.5		$	3.7	$	2.4
Income (loss) from discontinued operations, net of income taxes		0.4		(0.5	)		0.4		(1.2	)
Net income for basic and diluted earnings per share	$	1.7	$	—		$	4.1	$	1.2
Denominator:
Basic weighted average shares		58,969		58,671			58,896		58,640
Effect of:
Employee stock options		33		—			27		—
Diluted weighted average shares		59,002		58,671			58,923		58,640
Basic EPS:
Income per share from continuing operations	$	0.02	$	0.01		$	0.06	$	0.04
Income (loss) per share from discontinued operations, net of income taxes		0.01		(0.01	)		0.01		(0.02	)
Net income per share	$	0.03	$	—		$	0.07	$	0.02
Diluted EPS:
Income per share from continuing operations	$	0.02	$	0.01		$	0.06	$	0.04
Income (loss) per share from discontinued operations, net of income taxes		0.01		(0.01	)		0.01		(0.02	)
Net income per share	$	0.03	$	—		$	0.07	$	0.02

(1) The undistributed income allocated to participating securities was less than $0.1 million for all periods presented. The Company’s outstanding unvested restricted shares contain non-forfeitable rights to dividends. Accordingly, the weighted average share balances treat the unvested restricted shares as participating securities and are included in the computation of EPS pursuant to the two-class method. Application of the two-class method had no impact on EPS for all periods presented.

The following table sets forth the potentially dilutive securities excluded from the computation because their effect would have been anti-dilutive:

	Three months ended May 31,				Six months ended May 31,
	2012		2011		2012		2011
	(In thousands)
4.0625% Convertible Subordinated Debentures (“4 1/16% Debentures”)		22,219		22,219		22,219		22,219
Employee stock options		956		1,255		956		1,255
Unvested restricted shares		1,081		771		998		715
Total potentially dilutive securities		24,256		24,245		24,173		24,189