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Earnings (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2013
Earnings (Loss) Per Share  
Schedule of calculation of the basic and diluted net income (loss)

The following table (in thousands, except share and per share amounts) is a calculation of the basic and diluted net income (loss) for the three and six months ended June 30, 2013 and 2012.

 

 

 

For the Three Months
Ended June 30,

 

For the Six Months
Ended June 30,

 

 

 

2013

 

2012 (1)

 

2013

 

2012 (1)

 

Numerator

 

 

 

 

 

 

 

 

 

Net income (loss)

 

3,338

 

(112,377

)

(4,611

)

(129,884

)

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

Preferred stock dividend

 

(2,709

)

 

(6,826

)

 

Undistributed earnings to participating securities

 

(170

)

 

 

 

Net income (loss) attributable to common shareholders - basic and diluted

 

459

 

(112,377

)

(11,437

)

(129,884

)

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

Weighted average basic and diluted common shares outstanding (2)

 

68,441

 

60,887

 

65,699

 

54,261

 

Basic and diluted earnings (loss) per common share

 

$0.01

 

$(1.85

)

$(0.17

)

$(2.39

)

 

 

(1)         For the 2012 comparable period, the Company was not a public company until April 25, 2012.

(2)         At June 30, 2013, there were no other dilutive securities outstanding to consider for the period presented as the nonvested restricted stock grants and Series A Preferred Stock had already been considered as part of the two-class method.