Earnings (Loss) per Share

6 Months Ended

Jun. 30, 2011

Earnings (Loss) per Share

5. Earnings (Loss) per Share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the period. Diluted earnings (loss) per share is computed using the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding options and warrants, using the treasury stock method and the average market price of our common stock during the applicable period.

	For the Three Months					For the Six Months
	Ended June 30,					Ended June 30,
in thousands, except share and per share data	2011			2010		2011			2010
Basic
Net income (loss)	$	(10,724	)	$	9,039	$	(49,732	)	$	(8,614	)
Weighted-average common shares outstanding		67,229,098			42,364,791		63,839,723			41,253,076
Earnings (loss) per share, basic	$	(0.16	)	$	0.21	$	(0.78	)	$	(0.21	)
Diluted
Net income (loss)	$	(10,724	)	$	9,039	$	(49,732	)	$	(8,614	)
Weighted-average common shares outstanding		67,229,098			42,364,791		63,839,723			41,253,076
Effect of dilutive securities
Stock options		-			1,292,335		-			-
Unvested restricted common stock		-			1,496,334		-			-
Warrants		-			3,669,226		-			-
Dilutive potential common shares		-			6,457,895		-			-
Shares used in calculating diluted earnings (loss) per share		67,229,098			48,822,686		63,839,723			41,253,076
Earnings (loss) per share, diluted	$	(0.16	)	$	0.19	$	(0.78	)	$	(0.21	)

Certain shares related to some of the Company's outstanding common stock options, unvested restricted stock and warrants, have not been included in the computation of diluted earnings (loss) per share for the three and six months ended June 30, 2011 and 2010 as the result would be anti-dilutive.  Such potential common shares at June 30, 2011 and 2010 consist of the following:

	For the Three Months				For the Six Months
	Ended June 30,				Ended June 30,
	2011		2010		2011		2010
Stock options		4,790,552		227,000		4,790,552		3,567,685
Unvested restricted common stock		248,752		-		248,752		1,496,334
Warrants		13,252,346		3,756,709		13,252,346		15,924,642
		18,291,650		3,983,709		18,291,650		20,988,661