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Earnings Per Share (Tables)
3 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

(dollars in thousands, except per share data)

 

September 30,

 

September 30,

 

 

2015

 

2014

 

2015

 

2014

Basic and Diluted Earnings per Share

 

 

 

 

 

 

 

 

 

 

 

 

Calculation: *

 

 

 

 

 

 

 

 

 

 

 

 

Numerator: basic

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

10,158 

 

$

(4,894)

 

$

3,790 

 

$

(18,556)

Discontinued operations

 

 

158 

 

 

1,628 

 

 

2,287 

 

 

2,639 

Net earnings (loss) attributable to common shareholders - total basic

 

$

10,316 

 

$

(3,266)

 

$

6,077 

 

$

(15,917)

Numerator: diluted

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

10,158 

 

$

(4,894)

 

$

3,790 

 

$

(18,556)

Preferred stock dividend

 

 

522 

 

 

 

 

1,543 

 

 

Preferred stock derivative liability change in fair market value

 

 

(5,217)

 

 

 

 

(4,812)

 

 

Warrant derivative liability change in fair market value

 

 

(2,678)

 

 

 

 

(3,196)

 

 

Total continuing operations

 

 

2,785 

 

 

(4,894)

 

 

(2,675)

 

 

(18,556)

Discontinued operations

 

 

158 

 

 

1,628 

 

 

2,287 

 

 

2,639 

Net earnings (loss) attributable to common shareholders - total diluted

 

$

2,943 

 

$

(3,266)

 

$

(388)

 

$

(15,917)

Weighted average number of common shares - basic

 

 

4,927,503 

 

 

4,685,815 

 

 

4,868,610 

 

 

3,629,588 

Restricted stock

 

 

714 

 

 

 

 

648 

 

 

Preferred stock

 

 

18,750,000 

 

 

 

 

18,750,000 

 

 

Warrants - employees

 

 

5,745 

 

 

 

 

5,745 

 

 

Warrants

 

 

(361,115)

 

 

 

 

(78,272)

 

 

Weighted average number of common shares - diluted

 

 

23,322,847 

 

 

4,685,815 

 

 

23,546,731 

 

 

3,629,588 

Basic and Diluted  Earnings

 

 

 

 

 

 

 

 

 

 

 

 

Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

per weighted average common share:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations - basic

 

$

2.06 

 

$

(1.04)

 

$

0.78 

 

$

(5.11)

Discontinued operations - basic

 

 

0.03 

 

 

0.35 

 

 

0.47 

 

 

0.73 

Total - Basic EPS

 

$

2.09 

 

$

(0.69)

 

$

1.25 

 

$

(4.38)

Continuing operations - diluted

 

$

0.12 

 

$

(1.04)

 

$

(0.11)

 

$

(5.11)

Discontinued operations - diluted

 

 

0.01 

 

 

0.35 

 

 

0.09 

 

 

0.73 

Total - Diluted EPS

 

$

0.13 

 

$

(0.69)

 

$

(0.02)

 

$

(4.38)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

September 30,

 

September 30,

 

2015

 

2014

 

2015

 

2014

Outstanding stock options

5,625 

 

17,563 

 

5,625 

 

17,563 

Unvested stock awards outstanding

329 

 

566 

 

395 

 

7,175 

Warrants - employees

430,000 

 

 

335,147 

 

Common operating units *

12,126 

 

12,126 

 

12,126 

 

12,126 

LTIP units *

657,894 

 

 

513,302 

 

Warrants

3,750,000 

 

3,750,000 

 

3,750,000 

 

3,750,000 

Series C preferred stock

 

18,750,000 

 

 

9,903,846 

Convertible debt

 

 

 

737,179 

Total potentially dilutive securities excluded from the denominator

4,855,974 

 

22,530,255 

 

4,616,595 

 

14,427,889