Earnings (Loss) per Share of Common Stock

6 Months Ended

Jun. 30, 2012

Earnings (Loss) per Share of Common Stock

Note 10—Earnings (Loss) per Share of Common Stock

The Company accounts for and discloses net earnings (loss) per share using the treasury stock method. Net earnings (loss) per common share, or basic earnings (loss) per share, is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Net earnings (loss) per common share assuming dilutions, or diluted earnings (loss) per share, is computed by reflecting the potential dilution from the exercise of in-the-money stock options, non-vested restricted stock and non-vested restricted stock units.

The Company’s basic and diluted weighted-average number of common shares outstanding as of June 30, 2012 and 2011 were as follows:

	Three Months Ended June, 30				Six Months Ended June, 30
	2012		2011		2012		2011
	(In thousands)
Basic		70,721		70,075		70,596		70,035
Incremental common stock equivalents		—		—		—		—
Diluted		70,721		70,075		70,596		70,035

At June 30, 2012, and 2011, all in-the-money stock options and unvested restricted stock amounting to 1.8 million and 3.9 million shares, respectively, were excluded from the computation of diluted earnings (loss) per share as their effect would have been anti-dilutive, since the Company reported a net loss for these periods. At June 30, 2012 and 2011, approximately 9.3 million and 19.9 million shares related to the Company’s 2018 Convertible Notes, calculated “as if” the 2018 Convertible Notes had been converted, were excluded from the computation of diluted earnings (loss) per share as their effect would have been anti-dilutive, since the Company reported a net loss for the period. In addition, 4.0 million shares related to the warrants that were granted in conjunction with the debt exchange transaction described more fully in Note 7 were excluded from the computation of diluted earnings (loss) per share as their effect would have been anti-dilutive.