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

)