Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Earnings Per Share

Basic earnings per share is computed using the weighted-average number of outstanding shares of common stock during the period. Diluted earnings per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential outstanding shares of common stock during the period. Potential common shares consist of shares issuable upon the assumed conversion of the Company’s Senior Convertible Notes and incremental shares issuable upon the assumed exercise of stock options. The computation of earnings per share is as follows:

	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
	(in thousands, except per share data)
Basic earnings per share:
Net income	$	6,164	$	68,214	$	1,580	$	128,447
Shares used in computation:
Weighted-average common shares outstanding	55,526		52,470		55,491		52,614
Basic earnings per share	$	0.11	$	1.30	$	0.03	$	2.44
Diluted earnings per share:
Net income	$	6,164	$	68,214	$	1,580	$	128,447
Convertible Notes interest expense, net of tax	48		—		98		—
Numerator for diluted earnings per share	$	6,212	$	68,214	$	1,678	$	128,447
Shares used in computation:
Weighted-average common shares outstanding	55,526		52,470		55,491		52,614
Convertible notes shares	2,331		—		2,331		—
Employee stock options	952		1,439		1,056		1,463
Weighted-average number of shares	58,809		53,909		58,878		54,077
Diluted earnings per share	$	0.11	$	1.26	$	0.03	$	2.37

Employee stock options with exercise prices greater than the average market price of the common stock were excluded from the diluted calculation as their inclusion would have been anti-dilutive. The following table summarizes the potential common shares excluded from the diluted calculation:

	Three Months Ended		Six Months Ended
	June 30, 2012	June 30, 2011	June 30, 2012	June 30, 2011
	(in thousands)
Employee stock options	1,184	12	908	19