Net Loss Per Share (Notes)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Net Loss Per Share

NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding (excluding restricted shares). Shares issued during the period and shares reacquired during the period are weighted for the portion of the period they were outstanding. Diluted net loss per share is computed in a manner consistent with that of basic net loss per share while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and the assumed vesting of restricted stock using the treasury stock method, and the assumed conversion of shares under the Notes using the “if-converted” method.

Options to purchase common stock, the vesting of restricted stock, and shares issuable upon conversion of the Notes are considered to be potentially dilutive common shares but have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive for all periods presented as a result of the net losses incurred for each period. Therefore, diluted net loss per share was the same as basic net loss per share for the three and six months ended June 30, 2014 and June 30, 2013.  As a result, stock options and restricted stock outstanding representing 2.3 million and 1.9 million shares as of June 30, 2014 and June 30, 2013, respectively, were excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive. In addition, 7.3 million shares issuable upon the conversion of the Notes were excluded from the computation of diluted net loss per share as of June 30, 2014 because their inclusion would have been anti-dilutive also.

A summary of the net loss per share calculation is shown below for the periods indicated (in thousands, except share and per share amounts):

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
Net loss	$	(6,565	)	$	(728	)	$	(12,226	)	$	(1,687	)
Common shares outstanding:
Historical common shares outstanding at beginning of period	41,535,010			35,053,311			41,208,096			34,839,131
Weighted average common shares issued	68,333			3,715,658			271,230			2,035,649
Weighted average common shares outstanding — basic	41,603,343			38,768,969			41,479,326			36,874,780
Effect of dilution — stock options	—			—			—			—
Weighted average common shares outstanding — diluted	41,603,343			38,768,969			41,479,326			36,874,780
Net loss per share — basic and diluted	$	(0.16	)	$	(0.02	)	$	(0.29	)	$	(0.05	)