Earnings (loss) per Share

6 Months Ended

Jun. 30, 2011

Earnings (loss) per Share [Abstract]

Earnings (loss) per Share

Note 12. Earnings (loss) per Share

The computation of basic and diluted earnings (loss) per share is as follows:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2011		2010			2011		2010
	(In thousands, except per share amounts)
Net income (loss)	$	19,583	$	(23,079	)	$	22,788	$	(76,080	)
Weighted average shares:
Common shares outstanding for basic earnings (loss) per share		139,479		60,117			138,807		60,117
Common shares outstanding for diluted earnings (loss) per share		140,716		60,117			139,812		60,117
Basic earnings (loss) per share	$	0.14	$	(0.38	)	$	0.16	$	(1.27	)
Diluted earnings (loss) per share	$	0.14	$	(0.38	)	$	0.16	$	(1.27	)

The difference between basic shares outstanding and diluted shares outstanding for the three and six month periods ended June 30, 2011 represents the dilutive effect of potential Class A common shares issuable under outstanding stock option awards. As discussed in Note 3, the Company issued 6,050,000 shares of Class A common stock in January 2011. For the three and six months ended June 30, 2010, all potential common shares issuable upon exercise of outstanding stock options are excluded from diluted shares outstanding as their effect is antidilutive. As of June 30, 2011 and 2010, there were 5,906,758 and 6,207,920 options outstanding, respectively.