Quarterly report pursuant to Section 13 or 15(d)

Earnings/(Loss) Per Share

v2.4.0.6
Earnings/(Loss) Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
EARNINGS/(LOSS) PER SHARE
NOTE 7 — EARNINGS/(LOSS) PER SHARE
Basic and diluted earnings/(loss) per common share were calculated as follows (in thousands, except per share amounts):
 
 
Three Months Ended
 
March 31,
 
2013
 
2012
Basic weighted average number of shares outstanding
35,798

 
32,634

Effect of dilutive securities:
 
 
 
Convertible debt (1)
2,176

 
N/A

Stock options and unvested restricted stock (2)
466

 
—

Diluted weighted average shares outstanding
38,440

 
32,634

 
 
 
 
Net earnings/(loss) as reported
$
12,041

 
$
(4,754
)
Interest attributable to convertible senior notes, net of income taxes
365

 
0

Net earnings/(loss) for earnings/(loss) per share
$
12,406

 
$
(4,754
)
Basic earnings/(loss) per share
$
0.34

 
$
(0.15
)
Diluted earnings/(loss) per share (1) (2)
$
0.32

 
$
(0.15
)
Antidilutive stock options not included in the calculation of diluted income per share
271,155

 
1,610

 
(1)
During 2012, we issued $126.5 million of 1.875% convertible senior notes convertible into shares of our common stock at a rate of 17.1985 shares per $1,000 principle amount. In accordance with ASC Subtopic 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method.
(2)
For periods with a net loss, no options or non-vested shares are included in the dilution calculation as all options and non-vested shares outstanding are considered anti-dilutive.