NET LOSS PER SHARE

9 Months Ended

Sep. 30, 2013

NET LOSS PER SHARE

NET LOSS PER SHARE

4. NET LOSS PER SHARE

Net loss per share is computed under the provisions of ASC topic 260 - Earnings Per Share. Basic loss per share is computed using net loss and the weighted average number of shares of common stock outstanding. Diluted earnings per share reflect the weighted average number of shares of common stock outstanding plus any potentially dilutive shares outstanding during the period. Potentially dilutive shares consist of shares issuable upon the exercise of stock options, restricted stock awards, restricted stock units and conversion of shares of preferred stock. Common stock equivalent shares are excluded from the diluted computation if their effect is anti-dilutive.

The following table sets forth the computation of basic and diluted net loss per common share:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2013			2012			2013			2012
	(dollars in thousands, except per share amounts)						(dollars in thousands, except per share amounts)
				(As Adjusted)*						(As Adjusted)*
Numerator:
Net Loss	$	(4,169	)	$	(32,063	)	$	(12,286	)	$	(38,620	)
Denominator:
Weighted average number of common shares:
Basic	21,827			21,073			21,587			21,004
Diluted	21,827			21,073			21,587			21,004
Loss per common share:
Basic	$	(0.19	)	$	(1.52	)	$	(0.57	)	$	(1.84	)
Diluted	$	(0.19	)	$	(1.52	)	$	(0.57	)	$	(1.84	)

* Certain amounts have been adjusted for the retrospective change in accounting principle for sales commission (See Note 2).

For the three and nine months ended September 30, 2013 and 2012, no common stock equivalent shares were included in the calculation of the Company’s diluted net income per share.

For the three months ended September 30, 2013, outstanding stock options, restricted stock units and restricted stock of 227,000, 91,000  and 246,000 respectively, were not included in the diluted net loss per share calculation, as they were anti-dilutive.  For the three months ended September 30, 2012, outstanding stock options, restricted stock units and restricted stock of 357,000, 79,000 and 206,000, respectively, were not included in the diluted net loss per share calculation, as they were anti-dilutive.  For the nine months ended September 30, 2013, outstanding stock options, restricted stock units and restricted stock of 317,000, 91,000 and 245,000, respectively, were not included in the diluted net loss per share calculation, as they were anti-dilutive.  For the nine months ended September 30, 2012, outstanding stock options, restricted stock units and restricted stock of 338,000, 60,000 and 167,000, respectively, were not included in the diluted net loss per share calculation, as they were anti-dilutive.