Net Earnings Per Share

3 Months Ended

Mar. 31, 2014

Net Earnings Per Share [Abstract]

Net Earnings Per Share

13. NET EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding, as well as dilutive potential common shares which, in the Company's case, comprise of shares issuable under its equity compensation plans described in Note 8 of the consolidated financial statements. The treasury stock method is used to calculate dilutive shares, which reduces the gross number of dilutive shares by the number of shares purchasable from the proceeds of the options assumed to be exercised and the unrecognized expense related to the restricted stock and restricted stock unit awards assumed to have vested.

The following table sets forth the computation of basic and diluted loss per share for the three months ended March 31 (in thousands):

		2014			2013
Numerator:
Loss from continuing operations	$	(2,086	)	$	(3,643	)
Loss from discontinued operations		–			(4	)
Net loss available to common shareholders	$	(2,086	)	$	(3,647	)
Denominator for basic earnings per share:
Weighted average shares outstanding		31,034			30,877
Denominator for diluted earnings per share:
Weighted average shares outstanding		31,034			30,877
Common stock options and restricted stock		-			-
Weighted average shares and conversions		31,034			30,877

For the three months ended March 31, 2014 and 2013, all stock options, unvested restricted stock, and unvested restricted stock units were anti-dilutive and, therefore, not included in the dilutive loss per share calculation. The

number of weighted average stock options, unvested restricted stock, and unvested restricted stock units that were not included in the dilutive loss per share calculation because the effect would have been anti-dilutive was 209,000 and 182,000 shares for the three months ended March 31, 2014 and 2013, respectively.