Earnings Per Share Reconciliation

9 Months Ended

Sep. 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					NINE MONTHS ENDED
	SEPTEMBER 30,					SEPTEMBER 30,
(in thousands, except share data)	2012		2011			2012			2011
NUMERATOR
Net income (loss) from continuing operations	$	10,407	$	(3,890	)	$	13,435		$	(31,130	)
Net income (loss) from discontinued operations	238		(17,423		)	(1,626		)	(20,432		)
Net income (loss)	10,645		(21,313		)	11,809			(51,562		)
Interest on 1.6 percent convertible senior notes due 2018	729		-			-			-
Net income (loss) available to common stockholders	$	11,374	$	(21,313	)	$	11,809		$	(51,562	)
DENOMINATOR
Basic earnings per share—weighted-average shares	44,825,943		44,408,594			44,643,139			44,339,168
Effect of dilutive securities:
Share-based payments	804,101		-			520,541			-
1.6 percent convertible senior notes due 2018	7,023,780		-			-			-
Diluted earnings per share—adjusted
weighted-average shares and assumed conversions	52,653,824		44,408,594			45,163,680			44,339,168
NET INCOME (LOSS) PER COMMON SHARE
Basic
Continuing operations	$	0.23	$	(0.09	)	$	0.30		$	(0.70	)
Discontinued operations	0.01		(0.39		)	(0.04		)	(0.46		)
Total	0.24		(0.48		)	0.26			(1.16		)
Diluted
Continuing operations	0.21		(0.09		)	0.30			(0.70		)
Discontinued operations	0.01		(0.39		)	(0.04		)	(0.46		)
Total	$	0.22	$	(0.48	)	$	0.26		$	(1.16	)

For the nine-month period ended September 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 nine-month periods ended September 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.