Note 15 - Net (Loss) Income Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Text Block]

15.     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 that are potentially dilutive at certain earnings levels, and are computed using the if-converted method.

A reconciliation of the numerator and denominator of the basic and diluted net income (loss) per share attributable to Steel Excel computations was as follows for the three-month periods ended March 31, 2013 and 2012:

	Three-month Period Ended March 31,
	2013		2012
	(in thousands, except per share data)
Numerators:
Net income (loss) from continuing operations	$	2,974	$	(120	)
Loss from discontinued operations, net of taxes	$	-	$	(2,348	)
Net income (loss) attributable to Steel Excel Inc.	$	3,310	$	(1,888	)
Denominators:
Basic weighted average common shares outstanding		12,886		10,891
Effect of dilutive securities:
Stock-based awards		23		-
Diluted weighted average common shares outstanding		12,909		10,891
Basic income (loss) per share:
Net income (loss) from continuing operations	$	0.23	$	(0.01	)
Loss from discontinued operations, net of taxes	$	-	$	(0.22	)
Net income (loss) attributable to Steel Excel Inc.	$	0.26	$	(0.17	)
Diluted income (loss) per share:
Net income (loss) from continuing operations	$	0.23	$	(0.01	)
Loss from discontinued operations, net of taxes	$	-	$	(0.22	)
Net income (loss) attributable to Steel Excel Inc.	$	0.26	$	(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 periods ended March 31, 2013 and 2012 because their inclusion would have been antidilutive. The potential common shares excluded for the three-month periods March 31, 2013 and 2012 were as follows:

	Three-month Period Ended March 31,
	2013		2012
	(in thousands)
Outstanding stock options		62		87
Outstanding restricted stock		-		17
3/4% Convertible senior subordinated notes		3		3
		65		107