Loss per Common Share

12 Months Ended

Dec. 31, 2011

Loss per Common Share

Note 12. Loss per Common Share

Loss per common share, basic and diluted, are computed by dividing net loss allocable to common shareholders by the weighted-average number of common shares outstanding for the period. Weighted-average common shares outstanding—diluted is the same as weighted-average common shares outstanding—basic in periods when a net loss is reported. Dividends on cumulative preferred stock are added to net loss to calculate net loss allocable to common shareholders in the basic loss per share calculation, and in the diluted loss per share calculation in periods when a net loss is reported.

Potentially dilutive securities such as common stock equivalents of convertible preferred stock, options granted pursuant to the Company’s stock option plans, potential shares related to the employee stock purchase plan (“ESPP”) and outstanding restricted stock units granted to employees and non-employees (see Note 14) are excluded from the calculation in periods when a net loss is reported as their effect would be anti-dilutive. For the years ended December 31, 2011, 2010 and 2009, shares totaling 30,676,000, 30,267,000 and 21,004,000 were excluded from the calculations as their effect would have been anti-dilutive.

The following table summarizes the computation of basic and diluted loss per share:

	Year Ended December 31,
	2011			2010			2009
	(In thousands, except per share data)
Basic and diluted loss per common share
Net loss	$	(171,820	)	$	(18,804	)	$	(15,260	)
Less: Preferred stock dividends		(10,500	)		(10,500	)		(5,688	)
Net loss allocable to common shareholders	$	(182,320	)	$	(29,304	)	$	(20,948	)
Weighted-average common shares outstanding—basic		64,601			63,902			63,176
Weighted-average common shares outstanding—diluted		64,601			63,902			63,176
Basic loss per common share	$	(2.82	)	$	(0.46	)	$	(0.33	)
Diluted loss per common share	$	(2.82	)	$	(0.46	)	$	(0.33	)