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Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
A reconciliation between the basic and diluted earnings per share computations (in thousands, except per share amounts) is as follows:
For the Three Months Ended March 31, 2013
Income (Numerator)
 
Shares
(Denominator)
 
Per
Share Amount
Net income available to common stockholders
$
2,607

 
62,834

 
 
  Attributable to participating securities
(67
)
 

 
 
BASIC EPS
$
2,540

 
62,834

 
$
0.04

 
 
 
 
 
 
Net income available to common stockholders
$
2,607

 
62,834

 
 
Effect of dilutive securities:
 
 
 
 
 
  Stock options
—

 
195

 
 
  Attributable to participating securities
(67
)
 
—

 
 
DILUTED EPS
$
2,540

 
63,029

 
$
0.04

 
 
 
 
 
 
For the Three Months Ended March 31, 2012
Loss
(Numerator)
 
Shares
(Denominator)
 
Per
Share Amount
BASIC EPS
 
 
 
 
 
Net loss available to common stockholders
$
(18,608
)
 
62,216

 
$
(0.30
)
Effect of dilutive securities:
 
 
 
 
 
  Stock options
—

 
—

 
 
  Restricted stock
—

 
—

 
 
DILUTED EPS
$
(18,608
)
 
62,216

 
$
(0.30
)

Common shares issuable upon the assumed conversion of the Series B preferred stock totaling 5,148,000 shares were not included in the computation of diluted earnings per share for the three month period ended March 31, 2013 because the inclusion would have been anti-dilutive. Options to purchase 1,290,000 shares of common stock were outstanding during the three month period ended March 31, 2013 and were not included in the computation of diluted earnings per share because the options' exercise prices were in excess of the average market price of the common shares.
An aggregate of 960,000 shares of common stock representing options to purchase common stock and unvested shares of restricted common stock and common shares issuable upon the assumed conversion of the Series B preferred stock totaling 5,148,000 shares were not included in the computation of diluted earnings per share for the three month period ended March 31, 2012 because the inclusion would have been anti-dilutive as a result of the net loss reported for the period. In addition, options to purchase 1,039,000 shares of common stock were outstanding during the three months ended March 31, 2012 that would not have been included in the computation of diluted earnings per share because the options' exercise prices were in excess of the average market price of the common shares.