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Note 18 - Net Earnings (Loss) Per Common Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Text Block]
18. 
Net earnings (loss) per common share

Earnings per share calculations cannot be anti-dilutive, therefore diluted shares are not used in the denominator when the numerator is in a loss position.  The following table reconciles the numerator used to calculate earnings per common share:

 
 
2011
   
2010
   
2009
 
 
 
 
   
 
   
 
 
Net earnings (loss) attributable to common shareholders
  $ 64,139     $ 3,463     $ (54,955 )
Assumed interest savings on conversion of dilutive Convertible Debentures, net of tax
    3,604       -       -  
Net earnings (loss) for diluted earnings per share calculation purposes
  $ 67,743     $ 3,463     $ (54,955 )

The Convertible Debentures were dilutive in 2011, but anti-dilutive in all other periods presented.  The following table reconciles the denominator used to calculate earnings per common share:

 
 
2011
   
2010
   
2009
 
 
 
 
   
 
   
 
 
Shares issued and outstanding at beginning of period
    30,318,274       29,624,910       29,333,484  
Weighted average number of shares:
                       
Issued during the period
    218,418       455,708       104,091  
Repurchased during the period
    (443,081 )     -       -  
Weighted average number of shares used in computing basic earnings per share
    30,093,611       30,080,618       29,437,575  
Assumed exercise of stock options, net of shares assumed acquired under the Treasury Stock Method
    457,404       286,193       78,580  
Assumed conversion of dilutive Convertible Debentures
    2,750,000       -       -  
Number of shares used in computing diluted earnings per share
    33,301,015       30,366,811       29,516,155