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Earnings per Share (Tables)
 9 Months Ended
Sep. 30, 2014
Earnings per Share  
Summary of components used to calculate basic and diluted earnings per share

A summary of the components used to calculate basic and diluted earnings per share follows (in thousands, except per share):

 

 

 

For the Three Months Ended September 30,

 

For the Nine Months Ended September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

(Restated)

 

 

 

(Restated)

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

3,766

 

$

2,830

 

$

15,914

 

$

10,481

 

Less: Preferred dividends

 

4,147

 

4,147

 

12,441

 

10,443

 

Allocation to participating securities

 

27

 

21

 

68

 

52

 

Attributable to non-controlling interest

 

(5

)

211

 

43

 

326

 

Income (loss) from continuing operations attributable to common stockholders

 

(403

)

(1,549

)

3,362

 

(340

)

Income (loss) from discontinued operations attributable to common stockholders

 

(58

)

(3,258

)

275

 

(2,398

)

Net income (loss) attributable to common stockholders

 

$

(461

)

$

(4,807

)

$

3,637

 

$

(2,738

)

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding - basic

 

85,303

 

68,157

 

85,192

 

65,460

 

Dilutive effect of equity-based compensation awards

 

—

(1)

457

 

512

 

394

 

Weighted average common shares outstanding - diluted

 

85,303

 

68,614

 

85,704

 

65,854

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share - basic and diluted:

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

(0.01

)

$

(0.02

)

$

0.04

 

$

(0.01

)

Net income (loss) from discontinued operations

 

—

 

(0.05

)

—

 

(0.03

)

Net income (loss)

 

$

(0.01

)

$

(0.07

)

$

0.04

 

$

(0.04

)

 

 

(1) Equity-based compensation awards of 613 shares have been excluded from weighted average common shares outstanding as their inclusion would have been anti-dilutive.