Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2011

Net Income (Loss) Per Share

Net Income (Loss) Per Share

3.          Net Income (Loss) Per Share

The following table sets forth the Company’s reconciliation of basic and diluted share amounts (amounts in thousands, except per share amounts):

	For the Three Months Ended June 30, 2011		For the Three Months Ended June 30, 2010			For the Six Months Ended June 30, 2011		For the Six Months Ended June 30, 2010
Numerator:
Net income (loss)	$	64,265	$	(15,004	)	$	121,271	$	(31,088	)
Denominator:
Basic weighted average shares outstanding	49,708		44,069			49,620		43,911
Weighted average stock equivalents from assumed exercise of stock options and restricted stock awards	1,293		—			1,048		—
Diluted weighted average shares outstanding	51,001		44,069			50,668		43,911
Basic net income (loss) per share	$	1.29	$	(0.34	)	$	2.44	$	(0.71	)
Diluted net income (loss) per share	$	1.26	$	(0.34	)	$	2.39	$	(0.71	)
Weighted average anti-dilutive shares related to:
Outstanding stock options	1,716		3,405			2,020		3,270
Restricted stock awards	835		694			436		734

The weighted average anti-dilutive shares shown in the foregoing table were not included in the computation of diluted net income (loss) per share. In those reporting periods in which the Company has reported net income, anti-dilutive shares comprise those stock equivalents that have either (i.) an exercise price above the average stock price for the period or (ii.) shares of performance-based restricted common stock where the performance condition has not been met or (iii.) average unrecognized share-based compensation expense related to the stock equivalents sufficient to “buy back” the entire amount of shares. In those reporting periods in which the Company has a net loss, anti-dilutive shares comprise the impact of those number of shares that would have been dilutive had the Company had net income, plus the number of stock equivalents that would be anti-dilutive had the Company had net income.