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EARNINGS PER COMMON SHARE (Tables)
9 Months Ended
Sep. 29, 2012
EARNINGS PER COMMON SHARE  
Schedule of computation of basic and diluted earnings per common share

 

 

 

 

Nine Months Ended

 

Three Months Ended

 

In thousands

 

September 29,
2012
(39 Weeks)

 

October 1,
2011
(39 Weeks)

 

September 29,
2012
(13 Weeks)

 

October 1,
2011
(13 Weeks)

 

(Loss) income from continuing operations, basic(a)

 

 $

(120,674

)

$

(99,878

)

$

(19,393

)

 $

7,003

 

Convertible Notes interest expense(b)

 

--

 

--

 

--

 

--

 

(Loss) income from continuing operations, diluted(a)

 

 $

(120,674

)

$

(99,878

)

$

(19,393

)

 $

7,003

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

107,692

 

94,443

 

113,109

 

94,483

 

Stock options and nonvested shares(c)(d)

 

--

 

--

 

--

 

840

 

Convertible Notes(a)(b)

 

--

 

--

 

--

 

--

 

Diluted weighted average shares outstanding(a)(b)(c)(d)

 

107,692

 

94,443

 

113,109

 

95,323

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

Basic and Diluted

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations

 

 $

(1.12

)

$

(1.06

)

$

(0.17

)

 $

0.07

 

(Loss) income from discontinued operations

 

 $

(0.10

)

$

(3.18

)

$

--

 

 $

(2.34

)

Net loss

 

 $

(1.22

)

$

(4.24

)

$

(0.17

)

 $

(2.27

)

 

 

(a)

Because the Company incurred a loss from continuing operations for the nine and three months ended September 29, 2012 and nine months ended October 1, 2011, approximately 13.7 million, 8.9 million and 25.2 million potentially dilutive shares issuable upon conversion of the Convertible Notes, respectively, were considered antidilutive for such periods, and were excluded from the computation of diluted loss per share.

(b)

Interest expense of $2.3 million and approximately 25.2 million shares issuable upon conversion of the Convertible Notes were considered antidilutive and were excluded from the computation of diluted loss per share for three months ended October 1, 2011.

(c)

Excludes approximately 1.2 million and 0.8 million nonvested shares for the nine and three months ended September 29, 2012 and October 1, 2011, respectively, for which the performance criteria have not yet been achieved.

(d)

Because the Company incurred a loss from continuing operations for the nine and three months ended September 29, 2012 and nine months ended October 1, 2011, all outstanding stock options and nonvested shares are antidilutive for such periods. Accordingly, for the nine and three months ended September 29, 2012 and nine months ended October 1, 2011, approximately 5.9 million, 5.9 million and 7.6 million outstanding stock options, respectively, and approximately 0.5 million, 0.5 million and 1.0 million outstanding nonvested shares, respectively, were excluded from the computation of diluted loss per share.