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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

(dollars in thousands, except per share data)

 

June 30,

 

June 30,

 

 

2014

 

2013

 

2014

 

2013

Basic and Diluted Earnings per Share

 

 

 

 

 

 

 

 

 

 

 

 

Calculation:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator: basic

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable

 

 

 

 

 

 

 

 

 

 

 

 

to common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(12,130)

 

$

1,199 

 

$

(13,662)

 

$

(2,508)

Discontinued operations

 

 

829 

 

 

338 

 

 

1,011 

 

 

(850)

Net earnings (loss) attributable to

 

 

 

 

 

 

 

 

 

 

 

 

common shareholders - total basic

 

$

(11,301)

 

$

1,537 

 

$

(12,651)

 

$

(3,358)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator: diluted

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable

 

 

 

 

 

 

 

 

 

 

 

 

to common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(12,130)

 

$

1,199 

 

$

(13,662)

 

$

(2,508)

Preferred C dividend

 

 

 

 

469 

 

 

 

 

Derivative Liability change

 

 

 

 

 

 

 

 

 

 

 

 

in fair market value

 

 

 

 

(2,137)

 

 

 

 

Total continuing operations

 

 

(12,130)

 

 

(469)

 

 

(13,662)

 

 

(2,508)

Discontinued operations

 

 

829 

 

 

338 

 

 

1,011 

 

 

(850)

Net earnings (loss) attributable to

 

 

 

 

 

 

 

 

 

 

 

 

common shareholders - total diluted

 

$

(11,301)

 

$

(131)

 

$

(12,651)

 

$

(3,358)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number

 

 

 

 

 

 

 

 

 

 

 

 

of common shares - basic

 

 

3,287,401 

 

 

2,889,147 

 

 

3,091,713 

 

 

2,888,386 

Restricted stock

 

 

 

 

203 

 

 

 

 

Preferred stock

 

 

 

 

3,750,000 

 

 

 

 

Warrants

 

 

 

 

3,750,000 

 

 

 

 

of common shares - diluted

 

 

3,287,401 

 

 

10,389,350 

 

 

3,091,713 

 

 

2,888,386 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted  Earnings

 

 

 

 

 

 

 

 

 

 

 

 

Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable

 

 

 

 

 

 

 

 

 

 

 

 

to common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

per weighted average common share:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations - Basic

 

$

(3.69)

 

$

0.41 

 

$

(4.42)

 

$

(0.87)

Discontinued operations - Basic

 

 

0.25 

 

 

0.12 

 

 

0.33 

 

 

(0.29)

Total - Basic EPS

 

$

(3.44)

 

$

0.53 

 

$

(4.09)

 

$

(1.16)

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations - Diluted

 

$

(3.69)

 

$

(0.04)

 

$

(4.42)

 

$

(0.87)

Discontinued operations - Diluted

 

 

0.25 

 

 

0.03 

 

 

0.33 

 

 

(0.29)

Total - Diluted EPS

 

$

(3.44)

 

$

(0.01)

 

$

(4.09)

 

$

(1.16)

 

Schedule Of Potentially Dilutive Securities Excluded From Computation Of Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

June 30,

 

June 30,

 

2014

 

2013

 

2014

 

2013

Outstanding stock options

17,563 

 

27,875 

 

17,563 

 

27,875 

Unvested stock awards outstanding

4,317 

 

 

3,222 

 

1,594 

Warrants

3,750,000 

 

 

3,750,000 

 

3,750,000 

Series C preferred stock

7,046,703 

 

 

5,407,459 

 

3,750,000 

Convertible debt

975,275 

 

 

1,111,878 

 

Total potentially dilutive securities

 

 

 

 

 

 

 

excluded from the denominator

11,793,858 

 

27,875 

 

10,290,122 

 

7,529,469