Earnings Per Share Reconciliation

6 Months Ended

Jun. 30, 2012

Earnings Per Share Reconciliation

Earnings Per Share Reconciliation

Note 5.  Earnings Per Share Reconciliation

The following table sets forth the computation of basic and diluted earnings per share:

	THREE MONTHS ENDED					SIX MONTHS ENDED
	JUNE 30,					JUNE 30,
(in thousands, except share data)	2012		2011			2012			2011
NUMERATOR
Net income (loss) from continuing operations	$	6,049	$	(9,801	)	$	3,028		$	(27,240	)
Net income (loss) from discontinued operations	223		(912		)	(1,864		)	(3,009		)
Net income (loss)	6,272		(10,713		)	1,164			(30,249		)
Interest on 1.6 percent convertible senior notes due 2018	370		-			-			-
Net income (loss) available to common stockholders	$	6,642	$	(10,713	)	$	1,164		$	(30,249	)
DENOMINATOR
Basic earnings per share—weighted-average shares	44,627,548		44,368,874			44,551,441			44,303,958
Effect of dilutive securities:
Share-based payments	469,979		-			387,331			-
1.6 percent convertible senior notes due 2018	3,473,298		-			-			-
Diluted earnings per share—adjusted
weighted-average shares and
assumed conversions	48,570,825		44,368,874			44,938,772			44,303,958
NET INCOME (LOSS) PER COMMON SHARE
Basic
Continuing operations	$	0.14	$	(0.22	)	$	0.07		$	(0.61	)
Discontinued operations	0.00		(0.02		)	(0.04		)	(0.07		)
Total	0.14		(0.24		)	0.03			(0.68		)
Diluted
Continuing operations	0.14		(0.22		)	0.07			(0.61		)
Discontinued operations	0.00		(0.02		)	(0.04		)	(0.07		)
Total	$	0.14	$	(0.24	)	$	0.03		$	(0.68	)

For the six-month period ended June 30, 2012, the effect of convertible debt was not included in the diluted earnings per share calculations as it would have been antidilutive. For the three- and six-month periods ended June 30, 2011, the effects of outstanding restricted stock units and stock options were not included in the diluted earnings per share calculations as they would have been antidilutive due to the Company’s net loss for the respective periods.