Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 14 - Earnings Per Share:

The following is a reconciliation of the amounts used to calculate basic and diluted earnings per share (share amounts and $ amounts in thousands, except per share amounts):

	Three months ended
	March 31,			March 31,
	2012			2011
Loss from continuing operations	$	(28,696	)	$	(108,844	)
Provision for income taxes from discontinued operations		27			127
Loss from discontinued operations		(27	)		(127	)
Net loss	$	(28,723	)	$	(108,971	)
Basic:
Weighted average number of common shares outstanding		36,305			35,500
Loss from continuing operations	$	(0.79	)	$	(3.07	)
Loss from discontinued operations		(0.00	)		(0.00	)
Net loss per share of common stock	$	(0.79	)	$	(3.07	)
Assuming dilution:
Weighted average number of common shares outstanding		36,305			35,500
Effect of dilutive securities		-			-
Weighted average number of common and common    equivalent shares outstanding		36,305			35,500
Loss from continuing operations	$	(0.79	)	$	(3.07	)
Loss from discontinued operations		(0.00	)		(0.00	)
Net loss per share of common stock	$	(0.79	)	$	(3.07	)

Outstanding options of 560 thousand as of March 31, 2012 and 612 thousand as of March 31, 2011 were not included in the computation of diluted earnings per share because their exercise prices were greater than the average market price of our common stock during the respective periods and their inclusion would, therefore, have been anti-dilutive. Since we had a net loss for the three-month periods ended March 31, 2012 and March 31, 2011, basic and diluted net loss per share of common stock is the same, because the effect of including potential common stock equivalents (such as stock options, restricted shares, and restricted stock units) would be anti-dilutive. The effect of dilutive securities would have been 746 thousand on weighted average number of common shares outstanding for the three months ended March 31, 2012 and 902 thousand on weighted average number of common shares outstanding for the three months ended March 31, 2011.