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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 6 Months Ended
Jun. 30, 2012
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Income (Loss) Per Share

The following table sets forth the computation of basic and diluted income (loss) per common share (in thousands, except for per share amounts):

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2012
 
2011
 
2012
 
2011
Numerator:
 
 
 
 
 
 
 
Loss from continuing operations, net of income taxes
$
(4,293
)
 
$
(1,640
)
 
$
(6,316
)
 
$
(2,655
)
(Loss) income from discontinued operations, net of income taxes
76,059

 
(686
)
 
75,379

 
3,270

Net income (loss)
$
71,766

 
$
(2,326
)
 
$
69,063

 
$
615

 
 
 
 
 
 
 
 
Denominator - Basic:
 

 
 

 
 

 
 

Weighted average number of common shares outstanding
55,746

 
54,298

 
55,143

 
54,216

 
 
 
 
 
 
 
 
Basic loss from continuing operations
$
(0.07
)
 
$
(0.03
)
 
$
(0.11
)
 
$
(0.05
)
Basic (loss) income from discontinued operations
1.36

 
(0.01
)
 
1.36

 
0.06

Basic (loss) income
$
1.29

 
$
(0.04
)
 
$
1.25

 
$
0.01

 
 
 
 
 
 
 
 
Denominator - Diluted:
 

 
 

 
 

 
 

Weighted average number of common shares outstanding
55,746

 
54,298

 
55,143

 
54,216

Common share equivalents of outstanding stock options and restricted awards
—

 
—

 
—

 
—

Total diluted shares outstanding
55,746

 
54,298

 
55,143

 
54,216

 
 
 
 
 
 
 
 
Diluted loss from continuing operations
$
(0.07
)
 
$
(0.03
)
 
$
(0.11
)
 
$
(0.05
)
Diluted income (loss) from discontinued operations
1.36

 
(0.01
)
 
1.36

 
0.06

Diluted income (loss)
$
1.29

 
$
(0.04
)
 
$
1.25

 
$
0.01



The computation of diluted shares for the three and six months ended June 30, 2012 and 2011 excludes the effect of 3.4 million warrants with an exercise price of $10 issued in connection with the acquisition of Critical Homecare Solutions Holdings, Inc. ("CHS") in 2010. In addition to the warrants, the computation of diluted shares for the three months ended June 30, 2012 and 2011 excludes the effect of 5.6 million and 6.9 million, respectively, of other common stock equivalents as their inclusion would be anti-dilutive. The computation of diluted shares for the six months ended June 30, 2012 and 2011 excludes the effect of 5.6 million and 6.9 million, respectively, of other common stock equivalents as their inclusion would be anti-dilutive.
 

Recent Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board ("FASB") issued ASU 2011-08, Testing Goodwill for Impairment (“ASU 2011-08”). ASU 2011-08 allows an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under these amendments, an entity would not be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. The amendments include a number of events and circumstances for an entity to consider in conducting the qualitative assessment. The Company adopted ASU 2011-08 on January 1, 2012. The adoption of this statement did not have a material effect on the Company's Unaudited Consolidated Financial Statements.

In May 2011, the FASB issued ASU 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS (“ASU 2011-04”). ASU 2011-04 generally aligns the principles for fair value measurements and the related disclosure requirements under U.S. GAAP and International Financial Reporting Standards. From a U.S. GAAP perspective, the amendments are largely clarifications, but some could have a significant effect on certain companies. A number of new disclosures also are required. Except for certain disclosures, the guidance applies to public and nonpublic companies and is to be applied prospectively. The Company adopted ASU 2011-04 on January 1, 2012. The adoption of this statement is not expected to have a material effect on the Company's Unaudited Consolidated Financial Statements.