Income (Loss) per Share

9 Months Ended

Sep. 30, 2012

Income (Loss) per Share

Note 4: Income (Loss) per Share

The following table presents the basis for the income (loss) per share computations:

	Three Months Ended						Nine Months Ended
	September 30, 2012			October 2, 2011			September 30, 2012		October 2, 2011
	(In thousands)
Numerator:
Income (loss) from continuing operations	$	(51,134	)	$	31,365		$	15,531	$	88,264
Gain from disposal of discontinued operations, net of tax		9,783			—			9,783		—
Income (loss) from discontinued operations, net of tax		2,574			(162	)		2,574		(446	)
Net income (loss)	$	(38,777	)	$	31,203		$	27,888	$	87,818
Denominator:
Weighted average shares outstanding, basic		44,787			47,344			45,410		47,317
Effect of dilutive common stock equivalents		—			900			839		1,012
Weighted average shares outstanding, diluted		44,787			48,244			46,249		48,329

For the three and nine months ended September 30, 2012, diluted weighted average shares outstanding do not include outstanding equity awards of 1.8 million and 1.0 million, respectively, because to do so would have been anti-dilutive. For the three and nine months ended October 2, 2011, diluted weighted average shares outstanding do not include outstanding equity awards of 1.0 million and 0.7 million, respectively, because to do so would have been anti-dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.