XML 16 R14.htm IDEA: XBRL DOCUMENT v2.3.0.15
Net Income (Loss) per Share
9 Months Ended
Sep. 30, 2011
Net Income (Loss) per Share [Abstract] 
Net Income (Loss) per Share
9. Net Income (Loss) per Share
The following table sets forth the computation of basic and diluted EPS (in thousands, except per share amounts):
                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2011     2010     2011     2010  
Numerator
                               
Net income (loss)
  $ 3,570     $ (222 )   $ 1,775     $ (5,093 )
Preferred stock dividends forfeited (earned)
    (3 )     (247 )     75       (334 )
 
                       
Numerator for basic EPS – net income (loss) attributable to common stockholders
    3,567       (469 )     1,850       (5,427 )
 
                               
Effect of dilutive securities:
                               
Preferred stock dividends
    —       —       —       —  
 
                       
Numerator for diluted EPS – net income (loss) attributable to common stockholders
  $ 3,567     $ (469 )   $ 1,850     $ (5,427 )
 
                       
 
                               
Denominator:
                               
Weighted-average shares outstanding:
                               
Basic EPS
    53,341       947       22,418       793  
Effect of dilutive convertible preferred stock and warrants
    1,234,659       —       4,847,163       —  
 
                       
Denominator for diluted EPS
    1,288,000       947       4,869,581       793  
 
                       
 
                               
Basic EPS
  $ 0.07     $ (0.49 )   $ 0.08     $ (6.84 )
 
                       
Diluted EPS
  $ 0.00     $ (0.49 )   $ 0.00     $ (6.84 )
 
                       
At September 30, 2011, potentially dilutive securities of approximately 129,000 shares reserved for the exercise of outstanding stock options and warrants for common stock were excluded from the diluted EPS computation because their effect was anti-dilutive.
Because the Company had incurred a net loss for the three and nine months ended September 30, 2010, common stock issuable upon the conversion of preferred stock and the exercise of stock options and warrants were not included in the computation of net loss per share because their effect was anti-dilutive. At September 30, 2010, potentially dilutive securities were approximately 5.2 billion shares reserved for the conversion of convertible preferred stock, including accrued dividends, and the exercise of outstanding stock options and warrants.
The Series C-11 Preferred was convertible into 857 million and 909 million shares of common stock at September 30, 2011 and 2010, respectively.