Note 5 - Loss Per Common Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5.    Loss Per Common Share

We are authorized to issue 500,000,000 shares of common stock, $0.25 par value per share. At June 30, 2015, there were 379,168,386 shares of our common stock issued and 2,435,518 shares issued and held in treasury, for a net of 376,732,868 shares outstanding.

The following table reconciles weighted average common shares used in the computations of basic and diluted earnings per share for the three- and six-month periods ended June 30, 2015 and 2014 (thousands, except per-share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Numerator
Net loss	$	(26,667	)	$	(14,399	)	$	(14,115	)	$	(2,758	)
Preferred stock dividends		(138	)		(138	)		(276	)		(276	)
Net loss applicable to common shares for basic and diluted earnings per share	$	(26,805	)	$	(14,537	)	$	(14,391	)	$	(3,034	)
Denominator
Basic weighted average common shares		371,295			344,216			370,042			343,437
Dilutive stock options and restricted stock		—			—			—			—
Diluted weighted average common shares		371,295			344,216			370,042			343,437
Basic loss per common share
Net loss applicable to common shares	$	(0.07	)	$	(0.04	)	$	(0.04	)	$	(0.01	)
Diluted loss per common share
Net loss applicable to common shares	$	(0.07	)	$	(0.04	)	$	(0.04	)	$	(0.01	)

Diluted loss per share for the three- and six-month periods ended June 30, 2015 and 2014 excludes the potential effects of outstanding shares of our convertible preferred stock, as their conversion and exercise would have no effect on the calculation of dilutive shares.

For the three-month and six-month periods ended June 30, 2015 and 2014, all outstanding options, restricted share units, and warrants were excluded from the computation of diluted loss per share, as our reported net losses for those periods would cause their conversion and exercise to have no effect on the calculation of loss per share.