XML 43 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
INCOME (LOSS) PER SHARE
 3 Months Ended
Mar. 31, 2014
INCOME (LOSS) PER SHARE  
INCOME (LOSS) PER SHARE

NOTE 9   INCOME (LOSS) PER SHARE

 

Basic net income (loss) per share is computed by dividing the net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed similarly except that the weighted average number of common shares is increased to reflect all dilutive instruments. Below is a reconciliation of the basic and diluted weighted average number of common shares and the computations for basic income (loss) per share for the three months ended March 31, 2014 and 2013:

 

 

 

Three months ended March 31,

 

 

 

2014

 

2013

 

 

 

(in thousands, except per share)

 

Net income (loss)

 

$

17,887

 

$

(10,982

)

Weighted average common shares (thousands):

 

 

 

 

 

Basic

 

297,159

 

296,778

 

Effect of employee stock-based awards

 

1,251

 

—

 

Diluted

 

298,410

 

296,778

 

Net income (loss) per share:

 

 

 

 

 

Basic

 

$

0.06

 

$

(0.04

)

Diluted

 

$

0.06

 

$

(0.04

)

 

Options to purchase 1.5 million shares of common stock (March 31, 2013 — 1.8 million) at March 31, 2014 at an average exercise price of $5.95 per share (March 31, 2013 — $5.98) were not included in the computation of diluted weighted average shares because their exercise price exceeded the average price of the Company’s common stock for the three months ended March 31, 2014 and 2013, respectively. Other outstanding options to purchase 1.2 million shares of common stock were not included in the computation of diluted weighted average shares in the three months ended March 31, 2013 because their effect would have been anti-dilutive.