EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share (“EPS”) are computed by dividing the Company’s net income (loss) by the weighted average number of shares outstanding during the period. When the effects are not anti-dilutive, diluted earnings (loss) per share are computed by dividing the Company’s net income (loss) by the weighted average number of shares outstanding and the impact of all dilutive potential common shares, primarily stock options “in-the-money” and unvested restricted stock. The dilutive impact of stock options and unvested restricted stock is determined by applying the “treasury stock” method. Performance-based restricted stock awards are included in the computation of diluted earnings per share only to the extent that the underlying performance conditions: (i) are satisfied prior to the end of the reporting period, or (ii) would be satisfied if the end of the reporting period were the end of the related performance period and the result would be dilutive under the treasury stock method. Stock awards subject to vesting or exercisability based on the achievement of market conditions are included in the computation of diluted earnings per share only when the market conditions are met.

A reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share calculations were as follows:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2012			2011		2012			2011
Earnings (loss) per share ("EPS"):
Basic	$	(0.07	)	$	0.11	$	(0.16	)	$	0.24
Diluted	$	(0.07	)	$	0.11	$	(0.16	)	$	0.24
EPS numerator - basic and diluted:
Net income (loss)	$	(2,165	)	$	3,382	$	(4,992	)	$	7,600
EPS denominator (in thousands):
Weighted average common stock outstanding - basic	32,156			31,620		32,024			31,541
Common stock equivalents: stock options and other stock-based awards (a)	—			465		—			447
Weighted average number of common stock outstanding - diluted	32,156			32,085		32,024			31,988

(a) For the periods in which net losses are presented, the diluted weighted average number of shares of common stock outstanding did not differ from the basic weighted average number of shares of common stock outstanding because the effects of any potential common stock equivalents (see Note 5 for further details on outstanding stock options, non-vested restricted stock units and non-vested restricted stock) were anti-dilutive and therefore not included in the calculation of the denominator of dilutive earnings per share.

The weighted average number of shares outstanding used in the computation of diluted net income (loss) per share for the three and nine months ended September 30, 2012 and 2011 did not include the effect of the following potentially outstanding shares of common stock because the effect would have been anti-dilutive:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2012	2011	2012	2011
Unvested restricted stock	1,217,794	317,000	1,217,794	317,000
Unvested restricted stock units	100,000	—	100,000	—
Stock options	1,336,650	1,400,350	1,336,650	1,400,350
Total	2,654,444	1,717,350	2,654,444	1,717,350