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Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share

Note 7. Earnings Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares and dilutive common stock equivalent shares outstanding.

 

      Three Months Ended June 30,  
      2011      2010  
     (in thousands, except per share data)  

Net income (loss)

    $ 1,279       $ (16,656 ) 

Weighted-average number of shares of common stock and common stock equivalents outstanding:

      

Weighted-average number of common shares outstanding for computing basic earnings per share

      134,090         110,383   

Dilutive effect of warrants and stock options after application of the treasury stock method*

      4,826         —     
  

 

 

     

 

 

  

Weighted-average number of common shares outstanding for computing diluted earnings per share

      138,916         110,383   
  

 

 

     

 

 

  

Net income (loss) per share—basic

    $ 0.01       $ (0.15 ) 
  

 

 

     

 

 

  

Net income (loss) per share—diluted

    $ 0.01       $ (0.15 ) 
  

 

 

     

 

 

  

 

      Six Months Ended June 30,  
      2011      2010  
     (in thousands, except per share data)  

Net income (loss)

    $ 3,112       $ (17,240 ) 

Weighted-average number of shares of common stock and common stock equivalents outstanding:

      

Weighted-average number of common shares outstanding for computing basic earnings per share

      123,346         110,404   

Dilutive effect of warrants and stock options after application of the treasury stock method*

      6,672         —     
  

 

 

     

 

 

  

Weighted-average number of common shares outstanding for computing diluted earnings per share

      130,018         110,404   
  

 

 

     

 

 

  

Net income (loss) per share—basic

    $ 0.03       $ (0.16 ) 
  

 

 

     

 

 

  

Net income (loss) per share—diluted

    $ 0.02       $ (0.16 ) 
  

 

 

     

 

 

  

 

  * Warrants and stock options to purchase 13,509,380 and 39,335,409 shares of common stock for the six months ending June 30, 2011 and 2010, respectively, and 23,558,098 and 39,335,409 for the three months ending June 30, 2011 and 2010, respectively, were excluded from the net income (loss) per share calculation as their effect would have been anti-dilutive.