EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic earnings (loss) per share has been computed by dividing the net income (loss) applicable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Net income (loss) applicable to common shareholders includes the adjustment for net income or loss attributable to noncontrolling interest. Diluted earnings (loss) per share is computed by including the dilutive effect of common stock that would be issued assuming conversion or exercise of outstanding convertible notes and securities, stock options, stock appreciation rights, and restricted stock units. No such items were included in the computation of diluted loss per share in the three months ended March 31, 2013 because the Company incurred a loss from operations in this period and the effect of inclusion would have been anti-dilutive.

	Three Months Ended March 31,
	2013		2012
	(In thousands)
Income (loss) for basic earnings per share calculation:
Net income (loss) allocated to common shareholders	(2,725	)	518
Weighted average shares outstanding:
Basic weighted average shares outstanding	14,282		13,861
Effect of restricted stock units, stock options and SARS	—		107
Diluted weighted average shares outstanding	14,282		13,968

The table below shows the number of shares that were excluded from the calculation of diluted income (loss) per share because their inclusion would be anti-dilutive to the calculation:

	Three Months Ended March 31,
	2013	2012
	(In thousands)
Convertible securities	1,093	1,093
Restricted stock units, stock options and SARs	978	519
Total shares excluded from diluted shares calculation	2,071	1,612