Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2012

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 June 30,				Six Months Ended June 30,
	2012		2011		2012			2011
Income (loss) from continuing operations	$	239	$	15,776	$	(3	)	$	13,296
Income from discontinued operations		-		1,656		-			1,656
Net income (loss) attributable to Reading International, Inc. common shareholders		239		17,432	$	(3	)	$	14,952
Basic and diluted loss per share attributable to Reading International, Inc. common share holders:
Earnings (loss) from continuing operations	$	0.01	$	0.69	$	-		$	0.58
Earnings from discontinued operations		-		0.07		-			0.07
Basic and diluted earnings (loss) per share attributable to Reading International, Inc. common shareholders:	$	0.01	$	0.76	$	-		$	0.65
Weighted average shares of common stock – basic		23,009,209		22,789,718		22,969,392			22,749,202
Weighted average shares of common stock – diluted		23,177,815		22,960,713		22,969,392			22,920,198

     For the three and six months ended June 30, 2012, we recorded losses from continuing operations; therefore, we excluded 168,606 of in-the-money incremental stock options from the computation of diluted loss per share because they were anti-dilutive. For the three and six months ended June 30, 2011, the weighted average common stock – diluted included 170,995 of stock compensation and in-the-money incremental stock options. In addition, 692,789 of out-of-the-money stock options were excluded from the computation of diluted earnings (loss) per share for the three and six months ended June 30, 2012, and 714,417 of out-of-the-money stock options were excluded from the computation of diluted earnings (loss) per share for the three and six months ended June 30, 2011.