| Computation of Basic and Diluted Net Income Per Share |
The following is a reconciliation of net income (loss) and the
shares of common stock used in the computation of basic and diluted
net earnings per share:
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Three Months Ended |
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Nine Months Ended |
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September 30, 2014 |
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September 30, 2013 |
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September 30, 2014 |
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September 30, 2013 |
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Numerator:
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Net income (loss)
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$ |
2,690 |
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$ |
(424 |
) |
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$ |
3,157 |
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$ |
2,571 |
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Net income (loss) attributable to non-controlling interest
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— |
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(3 |
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— |
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19 |
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Net income (loss) attributable to the Company
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$ |
2,690 |
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$ |
(421 |
) |
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$ |
3,157 |
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$ |
2,552 |
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Denominator:
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Weighted average shares outstanding
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51,056,462 |
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44,560,053 |
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49,040,344 |
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44,560,053 |
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Adjustment for vested restricted stock
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— |
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1,147,749 |
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— |
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838,880 |
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Shares for calculating basic EPS
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51,056,462 |
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45,707,802 |
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49,040,344 |
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45,398,933 |
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Weighted average shares outstanding
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51,056,462 |
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45,707,802 |
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49,040,344 |
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44,560,053 |
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Dilutive effect of unvested restricted stock
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1,921,589 |
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— |
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2,182,704 |
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3,415,495 |
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Shares for calculating diluted EPS
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52,978,051 |
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45,707,802 |
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51,223,048 |
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47,975,548 |
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Net income (loss) per share:
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Basic
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$ |
0.05 |
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$ |
(0.01 |
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$ |
0.06 |
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$ |
0.06 |
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Diluted
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$ |
0.05 |
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$ |
(0.01 |
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$ |
0.06 |
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$ |
0.05 |
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| Computation of Basic and Diluted Net Income Per Share |
The following is a reconciliation of pro forma net income for the
three and nine months ended September 30, 2013 and the shares
of stock used in the computation of pro forma basic and diluted net
income per share:
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Three Months Ended
September 30, 2013 |
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Nine Months Ended
September 30, 2013 |
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Pro forma numerator:
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Net income (loss) attributable to the Company
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$ |
(421 |
) |
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$ |
2,552 |
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Pro forma additional income tax expense (benefit)
(Note 12)
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(93 |
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563 |
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Pro forma net income (loss) attributable to the Company
(Note 12)
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$ |
(328 |
) |
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$ |
1,989 |
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Pro forma denominator:
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Pro forma weighted average shares outstanding
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44,560,053 |
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44,560,053 |
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Adjustment for vested restricted stock
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1,147,749 |
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838,880 |
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Pro forma shares for calculating basic EPS
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45,707,802 |
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45,398,933 |
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Pro forma weighted average shares outstanding
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45,707,802 |
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44,560,053 |
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Effect of dilutive restricted stock
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— |
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3,415,495 |
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Pro forma shares for calculating diluted EPS
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45,707,802 |
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47,975,548 |
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Pro forma net income per share:
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Basic
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$ |
(0.01 |
) |
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$ |
0.04 |
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Diluted
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$ |
(0.01 |
) |
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$ |
0.04 |
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