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Earnings (Loss) Per Share
9 Months Ended
Sep. 30, 2011
Earnings (Loss) Per Share [Abstract] 
Earnings (Loss) Per Share

Note 5 – Earnings (Loss) Per Share

 

            Basic earnings (loss) per share is computed by dividing the net income (loss) attributable to Reading International, Inc. common shareholders by the weighted average number of common shares outstanding during the period.  Diluted earnings (loss) per share is computed by dividing the net income (loss) attributable to Reading International, Inc. common shareholders by the weighted average number of common shares outstanding during the period after giving effect to all potentially dilutive common shares that would have been outstanding if the dilutive common shares had been issued.  Stock options and non-vested stock awards give rise to potentially dilutive common shares.  In accordance with FASB ASC 260-10 - Earnings Per Share, these shares are included in the diluted earnings per share calculation under the treasury stock method.  As noted in the table below, due to the small difference between the basic and diluted weighted average common shares, the basic and the diluted earnings (loss) per share are the same for each of the periods presented.  The following is a calculation of earnings (loss) per share (dollars in thousands, except share data):

 

 

 

Three Months Ended

September 30,

Nine Months Ended

September 30,

 

2011

2010

2011

2010

Income (loss) from continuing operations

                        $                 42

                        $            1,241

                       $        13,299

                       $       (12,151)

Income (loss) from discontinued operations

                                            (5)

                                              1

                                    1,691

                         31

Net income (loss) attributable to Reading International, Inc. common shareholders

                    $                 37

                    $            1,242

                   $        14,990

                   $       (12,120)

 

 

 

 

 

Basic and diluted earnings (loss) per share attributable to Reading International, Inc. common share holders:

 

 

 

 

   Earnings (loss) from continuing operations

                    $                   --

              $   0.05

              $   0.58

              $ (0.53)

   Earnings from discontinued operations

                                         --

                                         --

                   0.07

                  --

Basic and diluted earnings (loss) per share attributable to Reading International, Inc. common share holders:

                    $                   --

              $   0.05

              $   0.65

              $ (0.53)

Weighted average common stock – basic

22,782,534

22,804,313

22,759,488

                      22,772,166

Weighted average common stock – dilutive

22,979,952

22,850,811

22,956,906

                      22,772,166

 

 

            For the three and nine months ended September 30, 2011, the weighted average common stock – diluted included 197,418 of stock compensation and in-the-money incremental stock options.  For the three months ended September 30, 2010, the weighted average common stock – diluted included 46,498 of in-the-money incremental stock options.  For the nine months ended September 30, 2010, we recorded losses from continuing operations; therefore, we excluded 46,498 of in-the-money incremental stock options from the computation of diluted loss per share because they were anti-dilutive in that period.  In addition, 726,975 of out-of-the-money stock options were excluded from the computation of diluted earnings (loss) per share for the three and nine months ended September 30, 2011, and 760,952 of out-of-the-money stock options were excluded from the computation of diluted earnings (loss) per share for the three and nine months ended September 30, 2010.