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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2013
Earnings (Loss) Per Share

NOTE 7 – EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share (“EPS”) is computed by dividing income or loss available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted EPS is computed based on the weighted average number of shares of common stock outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options, performance share units and restricted stock units and reflect the potential dilution that could occur if options issued under stock-based compensation awards were converted into common stock. For the three months ended March 31, 2013 and 2012, options to purchase 0.9 million and 2.0 million shares of the Company’s common stock, respectively, had an antidilutive effect on EPS, and accordingly, are excluded from the calculation of diluted EPS. For the three months ended March 31, 2013, no dilutive securities were included in the calculation of diluted loss per share because they were antidilutive due to the net loss from continuing operations, resulting in an additional 0.8 million shares that were excluded from the calculation of diluted EPS.

 

     Three Months Ended
March  31,		  
(in millions, except per share data)    2013     2012  

Income (loss) from continuing operations

    $ (1.1 )    $ 3.1   

Gain (loss) from discontinued operations and disposal, net of tax

      0.5        (4.2 ) 
  

 

 

    

 

 

  

Net loss

    $ (0.6 )    $ (1.1 ) 
  

 

 

    

 

 

  

Weighted average shares outstanding – Basic

      62.4        62.2   

Dilutive effect of common stock equivalents

      —          —     
  

 

 

    

 

 

  

Weighted average shares outstanding – Diluted

      62.4        62.2   
  

 

 

    

 

 

  

Basic loss per share:

     

Income (loss) from continuing operations

    $ (0.02 )    $ 0.05   

Gain (loss) from discontinued operations and disposal, net of tax

      0.01        (0.07 ) 
  

 

 

    

 

 

  

Net loss per share

    $ (0.01 )    $ (0.02 ) 
  

 

 

    

 

 

  

Diluted loss per share:

     

Income (loss) from continuing operations

    $ (0.02 )    $ 0.05   

Gain (loss) from discontinued operations and disposal, net of tax

      0.01        (0.07 ) 
  

 

 

    

 

 

  

Net loss per share

    $ (0.01 )    $ (0.02 )