(Loss)/Earnings Per Common Share

9 Months Ended

Sep. 30, 2012

(Loss)/Earnings Per Common Share

(Loss)/Earnings Per Common Share

2.(Loss)/Earnings Per Common Share

The Company calculates basic and diluted (loss)/earnings per share in accordance with Accounting Standards Codification (“ASC”) ASC 260, “Earnings Per Share.”  Basic (loss)/earnings per share is computed based upon weighted-average shares outstanding during the period.  Dilutive (loss)/earnings per share is computed consistently with the basic computation while giving effect to all dilutive potential common shares and common share equivalents that were outstanding during the period. The Company uses the treasury stock method to reflect the potential dilutive effect of unvested stock awards, warrants, and unexercised options.  The weighted average shares outstanding were calculated as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
(In thousands)	2012	2011	2012	2011
Weighted average shares for basic (loss)/earnings per share	118,699	123,993	118,969	123,598
Effect of dilutive common share equivalents	—	—	—	—
Weighted average shares and dilutive common share equivalents for dilutive (loss)/earnings per share	118,699	123,993	118,969	123,598

The Company was in a net loss position for the three and nine months ended September 30, 2012 and 2011 and therefore excluded approximately 9.2 million and 10.1 million, respectively, shares underlying stock options and warrants, 7.5 million and 6.7 million, respectively, shares of restricted stock, and 3.3 million and 6.6 million, respectively, shares underlying restricted stock units (“RSUs”) from its computation of dilutive loss per share because they were anti-dilutive.