Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

10. Earnings Per Share

Basic earnings per share is computed on the basis of weighted average outstanding common shares. Diluted earnings per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options and other outstanding dilutive securities.

The following table reconciles the average share amounts used to compute both basic and diluted loss per share (in thousands):

	Three Months Ended March 31,
	2012		2011
Weighted average share outstanding:
Basic weighted average shares outstanding		36,707		33,318
Add: Dilutive effect of stock options, restricted stock awards and common stock warrants		—		665
Diluted weighted average shares outstanding		36,707		33,983

The diluted earnings per share computation excludes 7.1 million and 3.2 million options to purchase shares, restricted share awards, common stock warrants and contingently issuable shares for the three months ended March 31, 2012 and 2011, respectively, as their effect would be anti-dilutive.