Earnings Per Share (As Restated)

The Company computes earnings per share in accordance with FASB ASC 260-10. Basic earnings per share (“Basic EPS”) has been computed using the weighted average number of common shares outstanding during each period. Diluted earnings per share ("Diluted EPS") assumes, as of the beginning of the period, exercise of stock options and restricted stock grants using the treasury stock method. Diluted EPS also assumes conversion of performance-based restricted stock units to common shares based on the number of shares (if any) that would be issuable, according to predetermined performance and market goals, if the end of the reporting period was the end of the performance period. As we recognized a net loss for the year ended December 31, 2013, the unvested share-based payments and stock options were not recognized in diluted earnings per share (“Diluted EPS”) calculations as they would be antidilutive. Certain of our stock options and restricted stock grants that would potentially dilute Basic EPS in the future were also antidilutive for the years ended December 31, 2012 and 2011, and are discussed below.

Due to amendments to our stock plan agreement made in May 2013 which clarify that unvested shares or unvested units are not dividend eligible, our earnings per share calculations, including historical periods, have been presented based on the traditional earnings per share calculation methodology instead of the two-class methodology. The effects of this change were immaterial for all historical periods presented.

The following is a reconciliation of the numerators and denominators used in the calculation of Basic and Diluted EPS for the years ended December 31, 2013, 2012 and 2011 (in thousands, except per share amounts):



	2013 (As Restated)							2012 (As Restated)					2011 (As Restated)
	Income from Continuing Operations			Shares	Per Share Amount			Income from Continuing Operations		Shares	Per Share Amount		Income from Continuing Operations		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	(2,442	)	43,331	$	(0.06	)	$	21,701	42,840	$	0.51	$	82,071	42,394	$	1.94
Dilutive Securities:
Stock Options				—						90					235
Restricted Stock Awards				—						244					267
Restricted Stock Units				—						—					—
Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	(2,442	)	43,331	$	(0.06	)	$	21,701	43,174	$	0.50	$	82,071	42,896	$	1.91

Options to purchase approximately 1.5 million shares at an average exercise price of $33.38 were outstanding at December 31, 2013, while options to purchase approximately 1.6 million shares at an average exercise price of $33.13 were outstanding at December 31, 2012 and options to purchase approximately 1.4 million shares at an average exercise price of $32.46 were outstanding at December 31, 2011.

All of the 1.6 million stock options to purchase shares were not included in the computation of Diluted EPS for the year ended December 31, 2013, as they would be antidilutive given the net loss from continuing operations. Approximately 1.3 million and 0.8 million stock options to purchase shares were not included in the computation of Diluted EPS for the years ended December 31, 2012 and 2011, respectively, because these stock options were antidilutive.

All of the 0.3 million restricted stock awards were not included in the computation of Diluted EPS for the year ended December 31, 2013, as they would be antidilutive given the net loss from continuing operations. Approximately 0.3 million and 0.2 million restricted stock awards were not included in the computation of Diluted EPS for the years ended December 31, 2012 and 2011, respectively, because they were antidilutive.

Approximately 0.3 million shares related to performance-based restricted stock units that could be converted to common shares based on predetermined performance and market goals were not included in the computation of Diluted EPS for year ended December 31, 2013, primarily because the performance and market conditions had not been met, assuming the end of the reporting period was the end of the performance period.