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Earnings Per Share
 3 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Diluted earnings per share is calculated as follows (in thousands, except per share amounts):
 
Quarter Ended December 31,
 
2012
 
2011
Diluted:
 
 
 
(Loss) income from continuing operations
$
(18,939
)
 
$
698

(Loss) Income from discontinued operations, net of tax
(1,449
)
 
41

Net (loss) income
$
(20,388
)
 
$
739

 
 
 
 
Weighted average number of shares outstanding - basic
24,294

 
14,833

Effect of dilutive securities:
 
 
 
Shares issuable upon vesting of performance-based restricted stock
—

 
6

Shares issuable upon conversion of TEU prepaid stock purchase contracts
—

 
2,582

Weighted average number of shares outstanding-diluted
24,294

 
17,421

 
 
 
 
Diluted (loss) earnings per share from continuing operations
$
(0.78
)
 
$
0.04

Diluted (loss) earnings per share from discontinued operations
(0.06
)
 
—

Diluted (loss) earnings per share
$
(0.84
)
 
$
0.04



In computing diluted loss per share for the quarter ended December 31, 2012 , all common stock equivalents were excluded from the computation of diluted loss per share as a result of their anti-dilutive effect, including options/stock-settled appreciation rights (SSARs) to purchase 0.6 million shares of common stock and 0.4 million and 8.1 million shares issuable upon the conversion of our Mandatory Convertible Notes and our TEU prepaid stock purchase contracts (based on the maximum potential shares upon conversion), respectively.

In computing diluted earnings per share for the three months ended December 31, 2011, 2.5 million common shares issuable upon conversion of our Mandatory Convertible Subordinated Notes and options/SSARs to purchase 0.5 million of common stock were excluded from the computation of diluted earnings per share as a result of their anti-dilutive effect.

During the quarter ended March 31, 2012, we exchanged 2.2 million shares of our common stock for $48.1 million of our Mandatory Convertible Subordinated Notes and 2.8 million shares of our common stock for 2.8 million TEUs comprised of prepaid stock purchase contracts and senior amortizing notes. During the quarter ended September 30, 2012, we issued an additional 4.6 million TEUs. As of December 31, 2012, there were $9.4 million of Mandatory Convertible Subordinated Notes and 4.8 million TEUs outstanding (including $22.0 million of amortizing notes). In January 2013, we issued 0.4 million shares of our common stock upon conversion of the Mandatory Convertible Subordinated Notes. If the remaining TEU instruments were converted at the maximum settlement factor under their respective agreements, we would be required to issue approximately 8.1 million shares of common stock to the instrument holders upon conversion. See Note 7 below for additional information related to the March 2012 conversion transactions and July 2012 TEU issuance.