Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2013

Earnings (Loss) Per Share

Earnings (Loss) Per Share

17. Earnings (Loss) Per Share

The table below presents a reconciliation between basic and dilutive weighted average shares outstanding:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2013	2012	2013	2012
	(in thousands)		(in thousands)
Basic weighted average shares outstanding	18,045	11,855	18,045	10,902
Effect of dilutive securities:
Nonvested share awards	39	—	29	—
Diluted weighted average shares outstanding	18,084	11,855	18,074	10,902

In June 2012, the Company completed an equity rights offering and issued 7,923,069 shares of its common stock to its existing shareholders, which shares are included above in our basic weighted average shares outstanding for the three months and six months ended June 30, 2013 and June 30, 2012.

All outstanding nonvested shares were excluded from diluted weighted average shares outstanding for the three and six months ended June 30, 2012, because the effect of their inclusion would be antidilutive, or would decrease the reported loss per share from continuing operations and discontinued operations.

In July 2013, the Company completed its IPO issuing 6,819,091 shares of its common stock (Note 19).