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ORGANIZATION (Tables)
3 Months Ended
Mar. 31, 2013
ORGANIZATION  
Schedule of effect of corrections on the Company's consolidated statements of operations

The following table presents the effect of these corrections on the Company’s Consolidated Statements of Operations for the years ended December 31, 2012 and December 31, 2011 (in thousands, except per share amounts):

 

 

 

Year Ended December 31, 2012

 

Year Ended December 31, 2011

 

 

 

As
Reported

 

Adjustment

 

As Revised

 

As
Reported

 

Adjustment

 

As Revised

 

Weighted average basic shares outstanding

 

11,313

 

(618

)

10,695

 

10,995

 

(618

)

10,377

 

Weighted average diluted shares outstanding

 

11,313

 

(618

)

10,695

 

10,995

 

(618

)

10,377

 

Net loss per share from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.20

)

$

(0.01

)

$

(0.21

)

$

(4.52

)

$

(0.27

)

$

(4.79

)

Diluted

 

$

(0.20

)

$

(0.01

)

$

(0.21

)

$

(4.52

)

$

(0.27

)

$

(4.79

)

Net income (loss) per share from discontinuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

4.32

 

$

0.25

 

$

4.57

 

$

(0.89

)

$

(0.05

)

$

(0.94

)

Diluted

 

$

4.32

 

$

0.25

 

$

4.57

 

$

(0.89

)

$

(0.05

)

$

(0.94

)

Net income (loss) per share attributable to common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

4.12

 

$

0.24

 

$

4.36

 

$

(5.41

)

$

(0.32

)

$

(5.73

)

Diluted

 

$

4.12

 

$

0.24

 

$

4.36

 

$

(5.41

)

$

(0.32

)

$

(5.73

)

 

For the years ended December 31, 2012 and 2011, we had losses from continuing operations and, as a result, no potentially dilutive securities were included in the denominator for computing diluted earnings per share because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute all earnings per share amounts.

 

The following tables present the effect of these corrections on the Company’s Consolidated Statements of Operations for each of the quarters in the year ended December 31, 2012 (in thousands, except per share amounts):

 

 

 

Three months ended March 31, 2012

 

Three months ended June 30, 2012

 

 

 

As
Reported

 

Adjustment

 

As Revised

 

As
Reported

 

Adjustment

 

As Revised

 

Weighted average basic shares outstanding

 

11,173

 

(618

)

10,555

 

11,303

 

(618

)

10,685

 

Weighted average diluted shares outstanding

 

11,414

 

(859

)*

10,555

 

11,303

 

(618

)

10,685

 

Net loss per share from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.29

)

$

(0.02

)

$

(0.31

)

$

(0.16

)

$

(0.00

)

$

(0.16

)

Diluted

 

$

(0.29

)

$

(0.02

)

$

(0.31

)

$

(0.16

)

$

(0.00

)

$

(0.16

)

Net income per share from discontinuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.56

 

$

0.09

 

$

1.65

 

$

2.44

 

$

0.14

 

$

2.58

 

Diluted

 

$

1.53

 

$

0.12

*

$

1.65

 

$

2.44

 

$

0.14

 

$

2.58

 

Net income per share attributable to common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.27

 

$

0.07

 

$

1.34

 

$

2.28

 

$

0.13

 

$

2.41

 

Diluted

 

$

1.24

 

$

0.10

*

$

1.34

 

$

2.28

 

$

0.13

 

$

2.41

 

 

*      Includes correction of an error of 241 shares and $0.03 per share made during the first quarter of 2012 related to the control number utilized for diluted earnings per share.

 

 

 

Three months ended September 30, 2012

 

Three months ended December 31, 2012

 

 

 

As
Reported

 

Adjustment

 

As Revised

 

As
Reported

 

Adjustment

 

As Revised

 

Weighted average basic shares outstanding

 

11,389

 

(618

)

10,771

 

11,386

 

(618

)

10,768

 

Weighted average diluted shares outstanding

 

12,003

 

(618

)

11,385

 

12,175

 

(618

)

11,557

 

Net income per share from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.02

 

$

0.01

 

$

0.03

 

$

0.22

 

$

0.01

 

$

0.23

 

Diluted

 

$

0.02

 

$

0.00

 

$

0.02

 

$

0.21

 

$

0.01

 

$

0.22

 

Net income (loss) per share from discontinuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.36

 

$

0.02

 

$

0.38

 

$

(0.02

)

$

0.00

 

$

(0.02

)

Diluted

 

$

0.35

 

$

0.01

 

$

0.36

 

$

(0.02

)

$

0.00

 

$

(0.02

)

Net income per share attributable to common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.38

 

$

0.03

 

$

0.41

 

$

0.20

 

$

0.02

 

$

0.22

 

Diluted

 

$

0.37

 

$

0.01

 

$

0.38

 

$

0.19

 

$

0.01

 

$

0.20

 

 

Schedule of effect of errors on consolidated balance sheet

 

 

December 31, 2012

 

 

 

As Reported

 

Adjustment

 

As Adjusted

 

Issued shares

 

12,625,678

 

(430,469

)

12,195,209

 

Outstanding shares

 

11,437,199

 

(430,469

)

11,006,730