Note 16 - Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Text Block]

Note 16.    Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) 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 which are potentially dilutive at certain earnings levels, and are computed using the if-converted method. As disclosed in Note 1, all share information has been adjusted to reflect the Reverse/Forward Split.

A reconciliation of the numerator and denominator of the basic and diluted income (loss) per share computations for continuing operations, discontinued operations and net income (loss) for all periods presented is as follows:

	Fiscal Year Ended December 31,					Nine-Month Transition Period Ended December 31,
	2012			2011		2010
	(in thousands, except per share amounts)
Numerators (basic and diluted):
Income (loss) from continuing operations, net of taxes	$	22,179		$	68	$	(17,386	)
Income (loss) from discontinued opertions, net of taxes	$	(1,935	)	$	6,629	$	(373	)
Net income (loss) attributable to Steel Excel Inc.	$	20,693		$	6,769	$	(17,759	)
Denominators:
Weighted average shares outstanding - basic		12,110			10,882		11,609
Effect of common stock equivalents (if any):
Stock-based awards		23			15		-
3/4% notes		-			-		-
Weighted average shares outstanding - diluted		12,133			10,897		11,609
Income (loss) per share:
Basic
Income (loss) from continuing operations, net of taxes	$	1.83		$	0.01	$	(1.50	)
Income (loss) from discontinued opertions, net of taxes	$	(0.16	)	$	0.61	$	(0.03	)
Net income (loss)	$	1.71		$	0.62	$	(1.53	)
Diluted
Income (loss) from continuing operations, net of taxes	$	1.83		$	0.01	$	(1.50	)
Income (loss) from discontinued opertions, net of taxes	$	(0.16	)	$	0.61	$	(0.03	)
Net income (loss)	$	1.71		$	0.62	$	(1.53	)

Diluted loss per share for the Transition Period was based on the basic weighted average shares outstanding only, as the inclusion of any common stock equivalents would have been anti-dilutive. For the “Loss from continuing operations, net of taxes,” for fiscal 2011, the basic weighted average shares outstanding was also used, as the inclusion of any common stock equivalents would have been anti-dilutive. The potential common shares excluded for each of the periods presented are as follows:

	Fiscal Year Ended December 31,				Nine-Month Transition Period Ended December 31,
	2012		2011		2010
	(in thousands)
Outstanding stock options		-		-		297
Outstanding restricted stock		-		20		43
3/4% convertible senior subordinated notes due 2023		3		3		3