NET INCOME (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2012

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE

3. NET INCOME (LOSS) PER SHARE

        Basic net income (loss) per share for the three and nine months ended September 30, 2011 and 2012 is computed on the basis of the weighted average number of common shares outstanding. Diluted net income per common share is computed using the "if converted method" with the weighted average number of common shares outstanding plus the effect of outstanding stock options calculated using the "treasury stock" method. The number of shares excluded from the diluted net income per common share computation because their effect was antidilutive was 5,693,579 and 3,789,106 for the three months ended September 30, 2011 and 2012, respectively, and 4,334,655 and 3,789,106 for the nine months ended September 30, 2011 and 2012, respectively.

        The components of basic and diluted net income (loss) per share were as follows:

	Three months ended September 30,					Nine months ended September 30,
	2011		2012			2011		2012
Net income (loss) attributable to CTC Media, Inc. stockholders	$	16,393	$	(38,480	)	$	77,653	$	28,188
Weighted average common shares outstanding—basic
Common stock		157,306,064		158,160,719			157,192,671		157,939,820
Dilutive effect of:
Common stock options		631,876		—			835,951		355,912
Weighted average common shares outstanding—diluted		157,937,940		158,160,719			158,028,622		158,295,732
Net income (loss) per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.10	$	(0.24	)	$	0.49	$	0.18
Diluted	$	0.10	$	(0.24	)	$	0.49	$	0.18

        The numerator used to calculate diluted net income (loss) per common share for the three and nine months ended September 30, 2011 and 2012 was net income (loss) attributable to CTC Media, Inc. stockholders.