Earnings Per Share

9 Months Ended

Sep. 30, 2013

9. Earnings Per Share

Basic earnings (loss) per share is computed on the basis of weighted average outstanding common shares. Diluted earnings (loss) per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options and other outstanding dilutive securities.

The following table reconciles the average share amounts used to compute both basic and diluted earnings (loss) per share (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Weighted average shares outstanding:
Basic weighted average shares outstanding		39,125		39,126		39,512		38,323
Add: Dilutive effect of stock options, restricted stock awards and common stock warrants		682		1,586		687		—

Diluted weighted average shares outstanding		39,807		40,712		40,199		38,323

The diluted earnings (loss) per share computation excludes 1.6 million options to purchase shares, restricted share awards, and contingently issuable shares during both the three and nine months ended September 30, 2013, as their effect would be anti-dilutive. The diluted earnings (loss) per share computation excludes 1.4 million and 5.9 million options to purchase shares, restricted share awards, common stock warrants and contingently issuable shares during the three and nine months ended September 30, 2012, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of September 30, 2013 and December 31, 2012 was 38,441,873 and 39,447,773, respectively.

- Definition

The entire disclosure for earnings per share.

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