XML 96 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
(Loss) Earnings Per Share
 3 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Earnings (Loss) per Share

The following data shows the amounts used in computing (loss) earnings per share and the effect on income and the weighted average number of shares of dilutive potential common shares.
 
Three months ended
 
June 30,
(In thousands, except per share data)
2013
 
2012
Numerator:
 
 
 
Income (loss) from continuing operations - basic and diluted
361

 
(2,655
)
Income from discontinued operations - basic and diluted
955

 
862

Net income (loss) - basic and diluted
$
1,316

 
$
(1,793
)
 
 
 
 
Denominator:
 
 
 
Weighted average shares outstanding - basic
22,022

 
21,836

   Effect of dilutive securities:
 
 
 
      Stock options and SSARs
206

 
—

      Unvested restricted shares
64

 
—

Weighted average shares outstanding - diluted
22,292

 
21,836

 
 
 
 
Earnings (loss) per share - basic:
 
 
 
Income (loss) from continuing operations
$
0.02

 
$
(0.12
)
Income from discontinued operations
0.04

 
0.04

Net income (loss) per share
$
0.06

 
$
(0.08
)
 
 
 
 
Earnings (loss) per share - diluted:
 
 
 
Income (loss) from continuing operations
$
0.02

 
$
(0.12
)
Income from discontinued operations
$
0.04

 
$
0.04

Net income (loss) per share
$
0.06

 
$
(0.08
)
 
 
 
 
Anti-dilutive stock options, SSARs, restricted shares and performance shares
721

 
1,729



Basic earnings (loss) per share is computed as net income available to common shareholders divided by the weighted average basic shares outstanding. The outstanding shares used to calculate the weighted average basic shares excludes 315,411 and 233,357 of restricted shares and performance shares at June 30, 2013 and 2012, respectively, as these shares were issued but were not vested and, therefore, not considered outstanding for purposes of computing basic earnings per share at the balance sheet dates.

Diluted earnings (loss) per share includes the effect of all potentially dilutive securities on earnings per share. We have stock options, stock-settled appreciation rights ("SSARs") and unvested restricted shares that are potentially dilutive securities. When a loss is reported, the denominator of diluted earnings per share cannot be adjusted for the dilutive impact of share-based compensation awards because doing so would be anti-dilutive. In addition, when a loss from continuing operations is reported, adjusting the denominator of diluted earnings per share would also be anti-dilutive to the loss per share, even if the entity has net income after adjusting for a discontinued operation. Therefore, for the three months ended June 30, 2012, basic weighted-average shares outstanding were used in calculating the diluted net loss per share.