Earnings Per Share

In periods in which the company has net income, the company is required to calculate earnings per share using the two-class method. The two-class method is required because the company's unvested shares are considered participating securities. Participating securities have the right to receive dividends should the company declare dividends on its common stock. Under the two-class method, undistributed and distributed earnings are allocated on a pro-rata basis to the common and restricted stockholders. The weighted-average number of common and restricted shares outstanding during the period is then used to calculate earnings per share (EPS) for each class of shares.

In periods in which the company has a net loss, basic loss per share is calculated using the treasury stock method. The treasury stock method is calculated by dividing the net loss by the weighted-average number of common shares outstanding during the period. The two-class is method is not used, because the two-class calculation is anti-dilutive.

Reconciliations of basic and diluted EPS are as follows:



	Three Months Ended June 30,
In thousands, except per share amounts	2016			2015
Net loss
Loss from continuing operations	$	(6,912	)	$	(6,690	)
Income from discontinued operations	2,649			2,518
Net loss	$	(4,263	)	$	(4,172	)

Basic Earnings (Loss) per Common Share
Weighted-average common shares outstanding used in earnings (loss) per share computations	61,460			61,843

Basic earnings (loss) per common share
Continuing operations	$	(0.11	)	$	(0.11	)
Discontinued operations	0.04			0.04
Basic earnings (loss) per common share	$	(0.07	)	$	(0.07	)

Diluted Earnings (Loss) per Common Share
Shares used in diluted earnings per common share computations	61,460			61,843

Diluted earnings (loss) per common share
Continuing operations	$	(0.11	)	$	(0.11	)
Discontinued operations	0.04			0.04
Diluted earnings (loss) per common share	$	(0.07	)	$	(0.07	)

Computation of Shares Used in Earnings (Loss) Per Common Share
Weighted-average common shares outstanding	61,460			61,843
Weighted-average common equivalent shares-dilutive effect of stock options and awards	—			—
Shares used in diluted earnings (loss) per common share computations	61,460			61,843

4.2 million and 4.7 million of anti-dilutive market price options have been excluded from the calculation of shares used in the diluted EPS calculation for the three months ended June 30, 2016 and 2015, respectively. 1.2 million and 0.9 million anti-dilutive unvested shares were excluded from the calculation of shares used in the diluted EPS calculation for the three months ended June 30, 2016 and 2015, respectively.



.	Six Months Ended June 30,
In thousands, except per share amounts	2016			2015
Net loss
Loss from continuing operations	$	(13,859	)	$	(7,094	)
Income from discontinued operations	3,993			4,536
Net loss	$	(9,866	)	$	(2,558	)

Basic Earnings (Loss) per Common Share
Weighted-average common shares outstanding used in earnings (loss) per share computations	61,395			61,858

Basic earnings (loss) per common share
Continuing operations	$	(0.23	)	$	(0.11	)
Discontinued operations	0.07			0.07
Basic earnings (loss) per common share	$	(0.16	)	$	(0.04	)

Diluted Earnings (Loss) per Common Share
Shares used in diluted earnings per common share computations	61,395			61,858

Diluted earnings (loss) per common share
Continuing operations	$	(0.23	)	$	(0.11	)
Discontinued operations	0.07			0.07
Diluted earnings (loss) per common share	$	(0.16	)	$	(0.04	)

Computation of Shares Used in Earnings (Loss) Per Common Share
Weighted-average common shares outstanding	61,395			61,858
Weighted-average common equivalent shares-dilutive effect of stock options and awards	—			—
Shares used in diluted earnings (loss) per common share computations	61,395			61,858

4.3 million and 4.4 million of anti-dilutive market price options have been excluded from the calculation of shares used in the diluted EPS calculation for the six months ended June 30, 2016 and 2015, respectively. 1.1 million and 0.8 million anti-dilutive unvested shares were excluded from the calculation of shares used in the diluted EPS calculation for the six months ended June 30, 2016 and 2015, respectively.