Net Earnings Per Share

9 Months Ended

Sep. 30, 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 of 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 earnings per share for the three and nine months ended September 30 (in thousands):

		Three Months Ended					Nine Months Ended
		September 30,					September 30,
Numerator:		2013			2012		2013			2012
(Loss) income from continuing operations	$	(13,727	)	$	7,022	$	(9,638	)	$	16,386
Income (loss) from discontinued operations		–			279		(4	)		183
(Loss) income available to common stockholders	$	(13,727	)	$	7,301	$	(9,642	)	$	16,569
Denominator for basic income per share:
Weighted average shares outstanding		30,946			30,765		30,916			30,739
Denominator for diluted income per share:
Weighted average shares outstanding		30,946			30,765		30,916			30,739
Common stock options and restricted stock		–			73		–			95
Weighted average shares and conversions		30,946			30,838		30,916			30,834

For the three and nine months ended September 30, 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 141,752 and 165,825 for the three and nine months ended September 30, 2013, respectively.