Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2012

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

Note 2 – Earnings (Loss) Per Share

We calculate basic earnings (loss) per share (EPS) by dividing net income (loss) by the weighted average number of common shares outstanding.  We include outstanding unvested restricted stock awards of our common stock in the basic weighted average share calculation.  Diluted EPS includes the dilutive effects of other share-based awards.  Potentially dilutive shares are excluded from the computation if their effect is anti-dilutive.

Since we reported a net loss for the first quarter of 2011, there was no difference between the basic and diluted weighted average shares outstanding for that period.  

The table below presents the computation of earnings (loss) per share, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except EPS):

			Three Months Ended March 31,
			2012		2011
Net income (loss)			$	3,651	$	(638	)
Weighted average shares outstanding:
	Basic			47,519		48,864
	Effect of dilutive securities:
		Stock options and employee stock purchase plan		1,079		–
	Diluted			48,598		48,864
Earnings (loss) per share:
	Basic		$	0.08	$	(0.01	)
	Diluted		$	0.08	$	(0.01	)
Anti-dilutive stock options excluded from diluted earnings per share computations				1,199		5,252