Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2013

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Note 7—Net Income (Loss) Per Share

        A reconciliation of the basic and diluted net income (loss) per share computations for the three months ended March 31, 2013 and 2012 is as follows (in thousands, except per share data):

	For the three months ended March 31,
	2013						2012
	Basic			Diluted			Basic		Diluted
Numerator:
Net income (loss)	$	(49,444	)	$	(49,444	)	$	40,616	$	40,616
Denominator:
Average number of common shares outstanding		62,599			62,599			62,463		62,463
Effect of dilutive securities:
Stock awards and warrants(1)		—			—			—		276
		62,599			62,599			62,463		62,739
Net income (loss) per share	$	(0.79	)	$	(0.79	)	$	0.65	$	0.65

(1)

Stock awards represent the weighted average number of shares of common stock issuable on the exercise of dilutive employee stock options and restricted stock units, less the number of shares of common stock which could have been purchased with the proceeds from the exercise of such stock awards. These purchases were assumed to have been made at the average market price of the common stock for the period. In periods of net loss, the number of shares used to calculate diluted earnings per share is the same as basic earnings per share; therefore, the effect of dilutive securities is zero for such periods. The weighted average number of stock options outstanding for the three months ended March 31, 2013 and 2012 totaling 357,333 and 136,513, respectively, were excluded from the calculation above because their effect would have been anti-dilutive.

        The table below sets forth the share-based awards that have been exercised or released:

	For the three months ended March 31,
	2013		2012
Stock options		24,831		19,059
Restricted stock units		16,873		17,959
Total		41,704		37,018