EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2014

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE D - EARNINGS PER SHARE

Basic per common share amounts are computed using the weighted average number of common shares outstanding during the period.  Diluted per common share amounts are computed using the weighted average number of common shares outstanding during the period and dilutive potential common shares.  Dilutive potential common shares consist of stock options, restricted stock units and performance-based units calculated using the treasury stock method.

Our credit agreement restricts the payment of dividends or other distributions to the shareholders of the Company with respect to the parent company or any of its subsidiaries.  See Note O - “Long-Term Debt” for additional information.

As of December 31, 2014, 2013 and 2012, total anti-dilutive shares amounted to 8,088, 1,939 and 37, respectively.

The reconciliation of the numerators and denominators used to calculate basic and diluted net (loss) income per share are as follows:

	Year Ended December 31,
				(As Restated)
(in thousands, except share and per share data)	2014			2013			2012
Net (loss) income from continuing operations applicable to common shareholders	$	(3,020	)	$	45,879		$	48,259
Loss from discontinued operations, net of income taxes	(15,946		)	(5,368		)	(235		)
Net (loss) income applicable to common shareholders	$	(18,966	)	$	40,511		$	48,024
Shares of common stock outstanding used to compute basic per common share amounts	35,309,478			34,825,867			34,273,621
Effect of dilutive restricted stock units and options (1)	—			382,887			463,799
Shares used to compute diluted per common share amounts	35,309,478			35,208,754			34,737,420
Basic:
(Loss) income from continuing operations per share applicable to common shareholders	$	(0.09	)	$	1.32		$	1.41
Loss from discontinued operations per share applicable to common shareholders	(0.45		)	(0.16		)	(0.01		)
Net (loss) income per share applicable to common shareholders	$	(0.54	)	$	1.16		$	1.40
Diluted:
(Loss) income from continuing operations per share applicable to common shareholders	$	(0.09	)	$	1.30		$	1.39
Loss from discontinued operations per share applicable to common shareholders	(0.45		)	(0.15		)	(0.01		)
Net (loss) income per share applicable to common shareholders	$	(0.54	)	$	1.15		$	1.38

(1) For 2014, given the Company is recognizing a net loss from continuing operations, shares used to compute diluted per common share amounts excludes 256,880 potentially dilutive common shares related to unvested restricted stock units and unexercised options in accordance with ASC 260 - Earnings Per Share.