Net Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Net Earnings Per Share

5.	Net Earnings Per Share
	Basic net earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if the effect of including these shares would be anti-dilutive. The Company’s two classes of common stock, Class A and Class B Non-Voting, have equal rights to dividends and income, and therefore, basic and diluted earnings per share are the same for each class of common stock.
	Diluted net earnings per share takes into account the potential conversion of stock options, restricted stock units and warrants using the treasury stock method. For the three months ended June 30, 2011 and 2010, the Company excluded 3,375,908 and 2,450,000 shares related to stock options which are potentially dilutive securities from the computation of diluted earnings per share because including these shares would be anti-dilutive. For the six months ended June 30, 2011 and the period from inception to June 30, 2010, the Company excluded 3,375,908 and 2,450,000 shares related to stock options which are potentially dilutive securities from the computation of diluted earnings per share because including these shares would be anti-dilutive. In addition, the Company excluded 2,613,989 and 2,450,000 shares related to restricted stock units for which the performance metric had yet to be achieved as of June 30, 2011 and 2010, respectively.
	The following table sets forth the reconciliation of basic and diluted net income (loss) per share:

	For the three months ended June 30,					For the six months ended June 30,		For the period from Inception to June 30,
(in thousands, except share data)	2011		2010			2011		2010
Numerator:
Net income (loss) available to common shareholders—basic and diluted EPS	$	7,023	$	(41,141	)	$	10,199	$	(41,618	)
Denominator:
Basic earnings per share—weighted average common shares		91,039,329		17,394,121			78,287,085		9,981,375
Effect of dilutive securities		124,329		—			121,379		—
Diluted earnings per share—weighted average common shares		91,163,657		17,394,121			78,408,463		9,981,375
Net income (loss) per share:
Basic	$	0.08	$	(2.37	)	$	0.13	$	(4.17	)
Diluted	$	0.08	$	(2.37	)	$	0.13	$	(4.17	)