Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2011

Notes to Financial Statements [Abstract]

Net Income (Loss) Per Common Share

Note B - Net Income (Loss) Per Common Share

Basic earnings per share ("EPS") are computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding for the period. In arriving at net income (loss) attributable to common stockholders, preferred stock dividends are deducted.  Diluted EPS reflects the potential dilution that could occur if share equivalents such as employee stock options, restricted shares and deferred incentive share units were exercised or converted into common stock that then shared in the earnings of Parkway.

The computation of diluted EPS is as follows (in thousands, except per share data):

	Three Months Ended June 30				Six Months Ended June 30
		2011		2010		2011		2010
Numerator:
Basic and diluted net income (loss)           attributable to common stockholders	$	(14,673)	$	5,659	$	(21,455)	$	7,002
Basic weighted average shares		21,489		21,410		21,483		21,400
Dilutive weighted average shares		21,489		21,410		21,483		21,400
Diluted net income (loss) per share attributable to           Parkway Properties, Inc.	$	(0.68)	$	0.26	$	(1.00)	$	0.33

The computation of diluted EPS for the three months and six months ended June 30, 2011 and 2010 did not include the effect of employee stock options, deferred incentive share units and restricted shares because their inclusion would have been anti-dilutive.