Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2012

Income (Loss) Per Common Share [Abstract]

Income (Loss) Per Common Share

3. Income (Loss) per Common Share

Basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the period plus dilutive potential common shares as determined using the treasury stock method for options and warrants to purchase common stock.

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

	Three months ended March 31,
	2012			2011
Numerator:
Net income (loss)	$	(13,924	)	$	1,840
Denominator:
Weighted-average common shares outstanding – basic		46,793			45,894
Dilutive effect of warrants		0			1,968
Dilutive effect of options		0			4
Weighted-average common shares outstanding – diluted		46,793			47,866
Net income (loss) per common share:
Basic	$	(0.30	)	$	0.04
Diluted	$	(0.30	)	$	0.04

The following table represents the potential common shares issuable pursuant to outstanding securities as of the related period end dates that were excluded from the computation of diluted net income (loss) per common share because their inclusion would have had an anti-dilutive effect (in thousands):

	As of March 31,
	2012		2011
Outstanding securities not included in calculations:
Warrants to purchase common stock		11,034		4,055
Options to purchase common stock		6,832		1,042
		17,866		5,097