Net Loss Per Share

6 Months Ended

Jun. 30, 2012

Net Loss Per Share [Abstract]

Net Loss Per Share

3. Net (Loss) Income Per Share

Our basic net (loss) income per share amounts have been computed by dividing net loss by the weighted-average number of common shares outstanding during the period. As of June 30, 2012 and 2011, the 33 and 120 shares, respectively, of unvested restricted stock outstanding have non-forfeitable rights to dividends. The allocation of 2012 net loss and 2011 net income to these participating securities pursuant to the two-class method is not material to both basic and diluted earnings per share. For the three and six months ended June 30, 2012, we reported net losses and, therefore, potential common shares were not included in the computation of diluted net loss per share since such inclusion would have been anti-dilutive. For the three and six months ended June 30, 2011, we reported net income, and the computation of diluted earnings per share is based upon the weighted-average number of common shares and dilutive effect, determined using the treasury stock method, of potential common shares outstanding. The calculations of net (loss) income per share, basic and diluted, are as follows:

	Net (Loss) Income (Numerator)			Weighted Average Common Shares (Denominator)		Per Share Amount
Three months ended June 30, 2012
Basic and diluted	$	(10,720	)		33,798	$	(0.32	)
Six months ended June 30, 2012
Basic and diluted	$	(23,806	)		33,779	$	(0.70	)
Three months ended June 30, 2011
Basic	$	55,486			33,510	$	1.66
Dilutive effect of stock options		-			257
Dilutive effect of restricted stock		-			20
Diluted	$	55,486			33,787	$	1.64
Six months ended June 30, 2011
Basic	$	32,559			33,397	$	0.97
Dilutive effect of stock options		-			150
Dilutive effect of restricted stock		-			20
Diluted	$	32,559			33,567	$	0.97

For the three and six months ended June 30, 2012 and 2011, anti-dilutive common shares excluded from diluted per share amounts consist of the following:

	Three Months Ended June 30,
	2012				2011
	Weighted Average Number		Weighted Average Exercise Price		Weighted Average Number		Weighted Average Exercise Price
Options		6,227	$	12.26		3,703	$	16.91
Restricted stock		74				-
Total		6,301				3,703

	Six Months Ended June 30,
	2012				2011
	Weighted Average Number		Weighted Average Exercise Price		Weighted Average Number		Weighted Average Exercise Price
Options		6,011	$	12.35		3,762	$	16.72
Restricted stock		85				-
Total		6,096				3,762