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Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

(11)  Earnings Per Share

 

The Company presents basic and diluted earnings per share (“EPS”) amounts. Basic EPS is calculated by dividing net income attributable to 3D Systems Corporation available to common stockholders by the weighted average number of common shares outstanding during the applicable period. Diluted EPS is calculated by dividing net income by the weighted average number of common and common equivalent shares outstanding during the applicable period.

 

The following table reconciles basic weighted average outstanding shares to diluted weighted average outstanding shares at September 30, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended September 30,

 

Nine Months Ended September 30,

(in thousands, except per share amounts)

2014

 

2013

 

2014

 

2013

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to 3D Systems Corporation – numerator for basic net earnings per share

$
3,084 

 

$
17,657 

 

$
10,086 

 

$
32,883 

Add: Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

Interest expense on 5.50% convertible notes (after-tax)

 

—

 

 

—

 

 

—

 

 

—

Numerator for diluted earnings per share

$
3,084 

 

$
17,657 

 

$
10,086 

 

$
32,883 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares – denominator for basic net earnings per share 

 
110,737 

 

 
102,437 

 

 
106,923 

 

 
96,874 

Add: Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

5.50% convertible notes (after-tax)

 

—

 

 

—

 

 

—

 

 

—

Denominator for diluted earnings per share

 
110,737 

 

 
102,437 

 

 
106,923 

 

 
96,874 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

$
0.03 

 

$
0.17 

 

$
0.09 

 

$
0.34 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense excluded from diluted earnings per share calculation (a)

$

—

 

$
243 

 

$
362 

 

$
1,751 

5.50% Convertible notes shares excluded from diluted earnings per share calculation (a)

 

—

 

 
876 

 

 
584 

 

 
2,060 

 

(a)

Average outstanding diluted earnings per share calculation excludes shares that may be issued upon conversion of the outstanding senior convertible notes since the effect of their inclusion would have been anti-dilutive.

 

For the quarter ended September 30, 2014, average common shares for basic and diluted earnings per share were 110,737 and basic and diluted earnings per share were $0.03. For the quarter ended September 30, 2013, average common shares for basic and diluted earnings per share were 102,437 and basic and diluted earnings per share were $0.17.

 

For the nine months ended September 30, 2014, average common shares for basic and diluted earnings per share were 106,923, and basic and diluted earnings per share were $0.09. For the nine months ended September 30, 2013, average common shares for basic and diluted earnings per share were 96,874 and basic and diluted earnings per share were $0.34.