Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 3—Earnings Per Share

A reconciliation between the basic and diluted earnings per share computations (in thousands, except per share amounts) is as follows:

	Loss			Shares		Per
For the Three Months Ended June 30, 2012	(Numerator)			(Denominator)		Share Amount
BASIC EPS
Net loss available to common stockholders	$	(54,520	)		62,363	$	(0.87	)
Effect of dilutive securities:
Stock options		—			—
Restricted stock		—			—
DILUTED EPS	$	(54,520	)		62,363	$	(0.87	)
	Loss			Shares		Per
For the Three Months Ended June 30, 2011	(Numerator)			(Denominator)		Share Amount
BASIC EPS
Net loss available to common stockholders	$	(3,045	)		61,917	$	(0.05	)
Effect of dilutive securities:
Stock options		—			—
Restricted stock		—			—
DILUTED EPS	$	(3,045	)		61,917	$	(0.05	)
	Loss			Shares		Per
For the Six Months Ended June 30, 2012	(Numerator)			(Denominator)		Share Amount
BASIC EPS
Net loss available to common stockholders	$	(73,128	)		62,289	$	(1.17	)
Effect of dilutive securities:
Stock options		—			—
Restricted stock		—			—
DILUTED EPS	$	(73,128	)		62,289	$	(1.17	)
	Loss			Shares		Per
For the Six Months Ended June 30, 2011	(Numerator)			(Denominator)		Share Amount
BASIC EPS
Net loss available to common stockholders	$	(1,148	)		61,793	$	(0.02	)
Effect of dilutive securities:
Stock options		—			—
Restricted stock		—			—
DILUTED EPS	$	(1,148	)		61,793	$	(0.02	)

An aggregate of 834,000 and 897,000 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 and six month periods ended June 30, 2012, respectively, because the inclusion would have been anti-dilutive as a result of the net loss reported for the periods.

An aggregate of 1,144,000 and 1,235,000 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 and six month periods ended June 30, 2011, respectively, because the inclusion would have been anti-dilutive as a result of the net loss reported for the periods.