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Net Income (Loss) Per Common Share
 9 Months Ended
Sep. 30, 2012
Net Income (Loss) Per Common Share  
Net Income (Loss) Per Common Share

Note D — Net Income (Loss) Per Common Share

 

Basic net income (loss) per common share (“Basic EPS”) excludes dilution and is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share (“Diluted EPS”) reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net income (loss) per common share.  During the three months ended September 30, 2012 and 2011, options to acquire 3,945,000 and 4,153,000 shares, respectively, were excluded from the computation of Diluted EPS as their impact was anti-dilutive. During the nine months ended September 30, 2012 and 2011, options to acquire 3,963,000 and 4,391,000 shares, respectively, were excluded from the computation of Diluted EPS as their impact was anti-dilutive.

 

The calculation of the weighted average number of common shares outstanding for Basic EPS and Diluted EPS for the periods indicated (in thousands, except per share data) is as follows:

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

(Unaudited)

 

(Unaudited)

 

Numerator

 

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$

20,933

 

$

116

 

$

37,211

 

$

(9,369

)

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding

 

51,241

 

51,570

 

51,022

 

52,704

 

Effect of outstanding share-based awards

 

912

 

745

 

586

 

—

 

Weighted average number of shares for diluted net income (loss) per common share

 

52,153

 

52,315

 

51,608

 

52,704

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

 

$

0.41

 

$

0.00

 

$

0.73

 

$

(0.18

)

Diluted earnings (loss) per share

 

$

0.40

 

$

0.00

 

$

0.72

 

$

(0.18

)