Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

9. 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,
	2013		2012
Weighted average share outstanding:
Basic weighted average shares outstanding		39,465		36,707
Add: Dilutive effect of stock options, restricted stock awards and common stock warrants		—		—
Diluted weighted average shares outstanding		39,465		36,707

The diluted loss per share computation excludes 3.8 million and 7.1 million options to purchase shares, restricted share awards, common stock warrants and contingently issuable shares during the three months ended March 31, 2013 and 2012, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of March 31, 2013 and December 31, 2012 was 39,837,647 and 39,447,773, respectively.