Note 14 - Net (Loss) Income Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

14.    Net (Loss) Income Per Share

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding during the period. Diluted net (loss) income per share gives effect to all potentially dilutive common shares outstanding during the period, which include certain stock-based awards, calculated using the treasury stock method, and convertible notes that are potentially dilutive at certain earnings levels, and are computed using the if-converted method. As disclosed in Note 1, all share information for the prior year period has been adjusted to reflect the Reverse/Forward Split.

A reconciliation of the numerator and denominator of the basic and diluted net (loss) income per share attributable to Steel Excel computations was as follows:

	Three-Month Period Ended:
	March 31, 2012			April 1, 2011
	(in thousands), except per share amounts
Numerators (basic and diluted)
Net (loss) income	$	(1,888	)	$	1,817
Denominators
Basic weighted-average shares outstanding		10,891			10,880
Effect of dilutive securities:
Stock-based awards		-			8
Diluted weighted-average shares outstanding		10,891			10,888
Net (loss) income per share:
Basic	$	(0.17	)	$	0.17
Diluted	$	(0.17	)	$	0.17

Diluted net loss per share for the three-month period ended March 31, 2012 was based only on the weighted-average number of shares outstanding during that period, as inclusion of any common stock equivalents would have been antidilutive. Certain potential common shares were excluded from the diluted computation for the three-month period ended April 1, 2011 because their inclusion would have been anti-dilutive. The potential common shares excluded for the three-month periods March 31, 2012 and April 1, 2011 were as follows:

	Three-Month Period Ended:
	March 31, 2012		April 1, 2011
	(in thousands)
Outstanding stock options		87		23
Outstanding restricted stock		17		8
3.4% Convertible senior subordinated notes		3		3