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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
(9)
Earnings Per Common Share
 
Basic earnings and loss per common share is computed by dividing the income or loss available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Restricted stock units (nonvested shares) are not considered to be outstanding shares until the vesting criteria (service and/or performance) have been satisfied.
 
For purposes of calculating diluted earnings per common share, the denominator includes both the weighted-average number of shares of common stock outstanding and the number of common stock equivalents if the inclusion of such common stock equivalents is dilutive. Dilutive common stock equivalents potentially include stock options and nonvested shares using the treasury stock method and the number of shares issuable upon conversion of the Company’s convertible notes payable for the period that they were outstanding. As of June 30, 2013, shares issuable under the employee stock purchase plan (ESPP) no longer have a dilutive effect due to the plan termination. Earnings per common share information as follows (in thousands, except per share amounts):
 
 
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
 
2013
 
 
2012
 
 
2013
 
 
2012
 
Income (loss) Per Common Share – Basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
4,719
 
 
$
(729)
 
 
$
7,109
 
 
$
(1,800)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding
 
 
43,729
 
 
 
48,176
 
 
 
43,711
 
 
 
48,234
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic income (loss) per share
 
$
0.11
 
 
$
(0.02)
 
 
$
0.16
 
 
$
(0.04)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) Per Common Share – Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
4,719
 
 
$
(729)
 
 
$
7,109
 
 
$
(1,800)
 
Add-back of interest expense on outstanding
    convertible notes payable, net of tax
 
$
457
 
 
 
-
(1)
 
$
1,142
 
 
 
-
(1)
Adjusted net income (loss)
 
$
5,176
 
 
$
(729)
 
 
$
8,251
 
 
$
(1,800)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding
 
 
43,729
 
 
 
48,176
 
 
 
43,711
 
 
 
48,234
 
Weighted-average incremental shares related to
    assumed exercise of stock options, vesting of
    nonvested shares, and ESPP
 
 
126
 
 
 
-
(1)
 
 
215
 
 
 
-
(1)
Weighted-average incremental shares assuming
    conversion of outstanding notes payable
 
 
11,417
(2)
 
 
-
(1)
 
 
14,271
(2)
 
 
-
(1)
Weighted-average common shares outstanding and
    common share equivalents
 
 
55,272
 
 
 
48,176
 
 
 
58,197
 
 
 
48,234
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted income (loss) per share
 
$
0.09
 
 
$
(0.02)
 
 
$
0.14
 
 
$
(0.04)
 
 
(1)
For the three and six months ended June 30, 2012, the Company recorded a net loss which could not be diluted.
(2)
Dilutive convertible notes payable, which were retired on June 1, 2013, were included in the denominator of diluted EPS for the period that they were outstanding.
 
Shares issuable which could potentially dilute basic EPS in the future include 2.4 million shares for stock options exercised and 0.9 million shares for vesting of nonvested shares.