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Earnings (Loss) Per Share
 9 Months Ended
Sep. 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
September 30,

 

Nine Months Ended
September 30,

 

 

2012

 

2011

 

2012

 

2011

Income (loss) from continuing operations

$
604 

$
(18)

$
482 

$
13,164 

Income (loss) from discontinued operations

 
(241)

 
55 

 
(121)

 
1,826 

Net income attributable to Reading International, Inc. common shareholders

 
363 

 
37 

 
361 

 
14,990 

Basic income per common share attributable to Reading International, Inc. shareholders:

 

 

 

 

 

 

 

 

Earnings from continuing operations

$
0.03 

$
0.00 

$
0.03 

$
0.58 

Earnings (loss) from discontinued operations, net

 
(0.01)

 
0.00 

 
(0.01)

 
0.08 

Basic income per share attributable to Reading International, Inc. shareholders

$
0.02 

$
0.00 

$
0.02 

$
0.66 

Diluted income per common share attributable to Reading International, Inc. shareholders:

 

 

 

 

 

 

 

 

Earnings from continuing operations

$
0.03 

$
0.00 

$
0.03 

$
0.57 

Earnings (loss) from discontinued operations, net

 
(0.01)

 
0.00 

 
(0.01)

 
0.08 

Diluted income per share attributable to Reading International, Inc. shareholders

$
0.02 

$
0.00 

$
0.02 

$
0.65 

Weighted average shares of common stock – basic

 
23,071,846 

 
22,782,534 

 
23,007,787 

 
22,759,488 

Weighted average shares of common stock – diluted

 
23,293,886 

 
22,979,952 

 
23,229,827 

 
22,956,906 

            For the three and nine months ended September 30, 2012, the weighted average common stock – diluted included 222,040 of common stock compensation and in-the-money incremental stock options and for the three and nine months ended September 30, 2011, the weighted average common stock – diluted included 197,418 of common stock compensation and in-the-money incremental stock options.  In addition, 682,827 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, 2012, and 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.