Income (Loss) per Share

9 Months Ended

Sep. 30, 2011

Note 11 — Income (Loss) per Share (in thousands, except share and per share data)


	Three Months		For the Period From			For the Period From			Nine Months Ended		For the Period From
	Ended		August 13, 2010 to			July 1, 2010 to			September 30,		January 1, 2010 to
	September 30, 2011		September 30, 2010			August 12, 2010			2011		August 12, 2010
	(Successor)		(Successor)			(Predecessor)			(Successor)		(Predecessor)
Net income or (loss) per share of common stock
Net income (loss) per share, basic	$	0.05	$	(0.04	)	$	(0.22	)	$	0.05	$	(0.56	)

Net income (loss) per share, diluted	$	0.05	$	(0.04	)	$	(0.22	)	$	0.05	$	(0.56	)


Numerator:

Net income (loss)	$	535	$	(384	)	$	(6,609	)	$	489	$	(16,941	)


Denominator:
Weighted average common shares outstanding, basic		10,159,098		10,063,386			30,353,454			10,149,763		30,331,994

Weighted average common shares outstanding, diluted		10,187,605		10,063,386			30,353,454			10,160,202		30,331,994

For the three and nine months ended September 30, 2011 diluted income per share includes the effect of 28,507 and 4,433 common shares, respectively, pertaining to the Warrant issued to Cambridge on April 15, 2011 under the Omnibus Agreement. As described in Note 5 to the Condensed Consolidated Financial Statements, pursuant to the First Amendment to the Omnibus Agreement, the Warrant will be terminated on or before December 9, 2011. The 2008 Warrant convertible into 652,500 common shares was excluded in diluted income per share because the exercise price was more than the average market price and it is anti-dilutive for these periods.

For the three and nine month periods ended September 30, 2010, there were no outstanding securities that were dilutive.

For the nine months ended September 30, 2011, the original operating partnership units did not affect diluted net income (loss) per share. For the three and nine months ended September 30, 2010, basic and diluted net income (loss) per share did not include operating partnership units that were outstanding prior to April 15, 2011, as they were anti-dilutive.

As described in Note 5 to the Condensed Consolidated Financial Statements, on April 14, 2011 (effective April 15, 2011), our Cambridge investment was restructured and the OP Units issued in connection with the Cambridge investment are no longer redeemable for or convertible into shares of our common stock.

The weighted average common shares outstanding (basic and diluted) for the three and nine months ended September 30, 2010 are adjusted to reflect the Company’s three-for-two stock split announced in September 2010.