(Loss) Earnings Per Share

9 Months Ended

Sep. 30, 2011

(Loss) Earnings Per Share [Abstract]

(Loss) Earnings Per Share

(Loss) Earnings Per Share

Basic earnings (loss) per share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of Avatar.

Basic and diluted (loss) earnings per share were calculated as follows:

	Nine Months Ended						Three Months Ended
	September 30,						September 30,
	2011			2010			2011			2010
Basic weighted average shares outstanding		12,444,422			11,254,591			12,450,961			11,272,437
Common stock equivalents (a)		-			(2,573,718	)		106,150			(2,433,104	)
Diluted weighted average shares outstanding		12,444,422			8,680,873			12,557,111			8,839,333
Net earnings (loss)	$	(148,184	)	$	(25,398	)	$	(121,561	)	$	(9,519	)
Basic earnings (loss) per share	$	(11.91	)	$	(2.26	)	$	(9.76	)	$	(0.84	)
Diluted earnings (loss) per share (a)	$	(11.91	)	$	(2.26	)	$	(9.76	)	$	(0.84	)

(a) For periods with a net loss, any incremental shares are considered to be antidilutive, and therefore the number of basic weighted average shares outstanding are used for diluted calculations, as required by ACS 260, Earnings Per Share.