Note 3 - Earnings per Share

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 3 – Earnings per Share

The following table presents the reconciliation of the numerator and denominator for calculating earnings per share from continuing operations:

	Second Quarter					First Half
(In thousands, except per share data)	2015			2014		2015			2014
Basic EPS:
Income (loss) from continuing operations	$	(4,254	)	$	20,329	$	(3,261	)	$	32,071
Weighted average number of common shares outstanding		82,529			83,010		82,414			83,872
Basic income (loss) from continuing operations per common share	$	(0.05	)	$	0.24	$	(0.04	)	$	0.38
Diluted EPS:
Income (loss) from continuing operations	$	(4,254	)	$	20,329	$	(3,261	)	$	32,071
Assumed conversions of Senior Notes		-			1,253		-			2,514
Adjusted income (loss) from continuing operations	$	(4,254	)	$	21,582	$	(3,261	)	$	34,585
Weighted average number of common shares outstanding-basic		82,529			83,010		82,414			83,872
Add:  Dilutive effect of stock options and restricted stock awards		-			1,743		-			1,705
Dilutive effect of Senior Notes		-			15,682		-			15,682
Diluted weighted average number of common shares outstanding		82,529			100,435		82,414			101,259
Diluted income (loss) from continuing operations per common share	$	(0.05	)	$	0.21	$	(0.04	)	$	0.34
Stock options and restricted stock excluded from calculation of diluted earnings per share because anti-dilutive for the period		2,911			816		2,685			719

For the second quarter and first half of 2015, we excluded all potentially dilutive stock options and restricted stock as well as the assumed conversion of the Senior Notes in calculating diluted earnings per share due to the net losses incurred for these periods as the effect was anti-dilutive.