Net Income (Loss) per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Net Income (Loss) per Share

(6) Net Income (Loss) per Share

     Basic net income (loss) per common share is computed by dividing net income (loss) applicable to common shares by the weighted average number of common shares outstanding during the period. Diluted net income per common share is determined based on the assumption that dilutive restricted stock and restricted stock unit awards have vested and outstanding dilutive stock options have been exercised and the aggregate proceeds were used to reacquire common stock using the average price of such common stock for the period. The total number of shares issued or committed for issuance under outstanding stock options at June 30, 2011 and 2010 was 5,396,075 and 7,575,100, respectively, and the total number of shares of restricted stock and shares reserved for restricted stock units outstanding at June 30, 2011 and 2010 was 964,882 and 914,907, respectively.

     There are 27,000 outstanding shares of the Company’s Series D Cumulative Convertible Preferred Stock, which may currently be converted, at the holder’s election, into up to 6,065,075 shares of the Company’s common stock. See further discussion of the Series D Preferred Stock conversion provisions at Note 8 “— Cumulative Convertible Preferred Stock” and Note 12 “— Litigation.” The outstanding shares of all Series D Preferred Stock were anti-dilutive for all periods presented.

     The following table summarizes the computation of basic and diluted net income (loss) per common share (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
Net income (loss) applicable to common shares	$	2,558	$	1,074	$	2,695	$	(70,691	)
Weighted average number of common shares outstanding		155,096		151,441		154,385		135,962
Effect of dilutive stock awards		1,457		595		1,673		—
Weighted average number of diluted common shares outstanding		156,553		152,036		156,058		135,962
Basic net income (loss) per share	$	0.02	$	0.01	$	0.02	$	(0.52	)
Diluted net income (loss) per share	$	0.02	$	0.01	$	0.02	$	(0.52	)