Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

9. Earnings Per Share

Basic earnings (loss) per share is computed on the basis of weighted average outstanding common shares. Diluted earnings (loss) 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 earnings (loss) per share (in thousands):

	Three Months Ended June  30,				Six Months Ended June 30,
	2013		2012		2013		2012
Weighted average share outstanding:
Basic weighted average shares outstanding		39,835		39,263		39,594		37,985
Add: Dilutive effect of stock options, restricted stock awards and common stock warrants		666		—		—		—
Diluted weighted average shares outstanding		40,501		39,263		39,594		37,985

The diluted earnings (loss) per share computation excludes 1.6 million and 3.7 million options to purchase shares, restricted share awards, and contingently issuable shares during the three and six months ended June 30, 2013, respectively, as their effect would be anti-dilutive. The diluted earnings (loss) per share computation excludes 6.7 million and 6.9 million options to purchase shares, restricted share awards, common stock warrants and contingently issuable shares during the three and six months ended June 30, 2012, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of June 30, 2013 and December 31, 2012 was 39,568,183 and 39,447,773, respectively.