| Basic and Diluted Earnings Per Share |
The following table provides a reconciliation of the numerators and
denominators of our basic and diluted earnings per share (dollars
in thousands, except per-share amounts).
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2013 |
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2012 |
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2013 |
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2012 |
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Income (numerator):
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Net income (loss) – basic
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$ |
495 |
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$ |
(2,355 |
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$ |
7,935 |
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$ |
7,221 |
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Weighted average shares (denominator):
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Weighted average shares – basic
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39,011,555 |
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34,190,192 |
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38,980,971 |
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33,656,726 |
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Dilution effect of share-based compensation, treasury method
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21,258 |
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— |
(1) |
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21,760 |
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79,393 |
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Weighted average shares – diluted
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39,032,813 |
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34,190,192 |
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39,002,731 |
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33,736,119 |
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Net (loss) income per share:
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Basic
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$ |
0.01 |
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$ |
(0.07 |
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$ |
0.20 |
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$ |
0.21 |
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Diluted
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$ |
0.01 |
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$ |
(0.07 |
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$ |
0.20 |
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$ |
0.21 |
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| (1) |
Approximately 25,000 options to
purchase our common stock were excluded from this calculation
because they were antidilutive for the three months ended September
30, 2012. |
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