Earnings Per Share ("EPS")

3 Months Ended

Mar. 31, 2013

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")

Note 4. Earnings Per Share (“EPS”)

The following table reconciles basic weighted average outstanding shares to diluted weighted average outstanding shares:

	Three Months
	Ended March 31,
(all amounts in thousands, except per share data)	2013			2012
Basic weighted average common shares outstanding	49,364			49,295
Dilutive securities:
Stock compensation plans	—			224
Diluted weighted average common shares outstanding	49,364			49,519
(Loss) earnings from continuing operations, net of tax	$	(29,672	)	$	1,540
Earnings from discontinued operations, net of tax	67			8,218
Net (loss) earnings	$	(29,605	)	$	9,758
(Loss) earnings from continuing operations, net of tax, per share — basic and diluted	$	(0.60	)	$	0.03
Earnings from discontinued operations, net of tax, per share — basic and diluted	0.00			0.17
Net (loss) earnings per share — basic and diluted	$	(0.60	)	$	0.20

Stock options for which the exercise price exceeds the average market price over the applicable period have an antidilutive effect on EPS, and accordingly, are excluded from the calculation of diluted EPS.  Due to the net loss for the three months ended March 31, 2013, stock-based grants for 1,977,545 shares were considered to be antidilutive.  For the three months ended March 31, 2012, stock-based grants for 1,322,697 shares were excluded from the diluted EPS calculation because the shares were antidilutive.