Note 14 - Net (Loss) Income Per Share

6 Months Ended

Jun. 30, 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:					Six-Month Period Ended:
	June 30, 2012		July 1, 2011			June 30, 2012			July 1, 2011
	(in thousands), except per share amounts
Numerators (basic and diluted)
Income (loss) from continuing operations, net of taxes	$	2,242	$	(1,550	)	$	(226	)	$	267
Income from discontinued operations, net of taxes	$	-	$	6,830		$	-		$	6,830
Net income attributable to Steel Excel Inc.	$	2,242	$	5,280		$	354		$	7,097
Denominators
Basic weighted-average shares outstanding		11,588		10,881			11,240			10,881
Effect of dilutive securities:
Stock-based awards		17		14			17			10
Diluted weighted-average shares outstanding		11,605		10,895			11,257			10,891
Net (loss) income per share:
Basic
Income (loss) from continuing operations, net of taxes	$	0.19	$	(0.14	)	$	(0.02	)	$	0.02
Income from discontinued operations, net of taxes	$	-	$	0.63		$	-		$	0.63
Net income attributable to Steel Excel Inc.	$	0.19	$	0.49		$	0.03		$	0.65
Diluted
Income (loss) from continuing operations, net of taxes	$	0.19	$	(0.14	)	$	(0.02	)	$	0.02
Income from discontinued operations, net of taxes	$	-	$	0.63		$	-		$	0.63
Net income attributable to Steel Excel Inc.	$	0.19	$	0.48		$	0.03		$	0.65

Certain potential common shares were excluded from the diluted computation for the three-month and six-month periods ended June 30, 2012 and July 1, 2011 because their inclusion would have been anti-dilutive. The potential common shares excluded for the three-month and six-month periods ended June 30, 2012 and July 1, 2011 were as follows:

	Three-Month Period Ended:				Six-Month Period Ended:
	June 30, 2012		July 1, 2011		June 30, 2012		July 1, 2011
	(in thousands), except per share amounts
Outstanding stock options		59		-		59		-
Outstanding restricted stock		3		-		3		-
3/4% Convertible senior subordinated notes		3		3		3		3