Net Earnings Per Share

3 Months Ended

Mar. 31, 2013

Net Earnings Per Share [Abstract]

Net Earnings Per Share

14. NET EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding, as well as dilutive potential common shares which, in the Company's case, comprise shares issuable under its equity compensation plans described in Note 9 of the consolidated financial statements. The treasury stock method is used to calculate dilutive shares, which reduces the gross number of dilutive shares by the number of shares purchasable from the proceeds of the options assumed to be exercised and the unrecognized expense related to the restricted stock and restricted stock unit awards assumed to have vested.

The following table sets forth the computation of basic and diluted loss (income) per share for the three months ended March 31 (in thousands):

		2013			2012
Numerator:
(Loss) income from continuing operations	$	(3,643	)	$	1,449
Loss from discontinued operations		(4	)		(87	)
Net (loss) income available to common shareholders	$	(3,647	)	$	1,362
Denominator for basic earnings per share:
Weighted average shares outstanding		30,877			30,718
Denominator for diluted earnings per share:
Weighted average shares outstanding		30,877			30,718
Common stock options and restricted stock		-			133
Weighted average shares and conversions		30,877			30,851

For the three months ended March 31, 2013, all stock options, unvested restricted stock, and unvested restricted stock units were anti-dilutive and, therefore, not included in the dilutive loss per share calculation. The number of weighted average stock options, unvested restricted stock, and unvested restricted stock units that were not included in the dilutive loss per share calculation because the effect would have been anti-dilutive was 181,925 shares for the three months ended March 31, 2013.