Quarterly report pursuant to Section 13 or 15(d)

Earnings/(Loss) Per Share

v2.4.0.8
Earnings/(Loss) Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS/(LOSS) PER SHARE
NOTE 7 — EARNINGS PER SHARE
Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):  
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Basic weighted average number of shares outstanding
36,151

 
32,755

 
35,976

 
32,694

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

 
—

 
2,176

 
—

Stock options and unvested restricted stock
431

 
349

 
510

 
392

Diluted weighted average shares outstanding
38,758

 
33,104

 
38,662

 
33,086

 
 
 
 
 
 
 
 
Net earnings as reported
$
28,143

 
$
8,005

 
$
40,184

 
$
3,251

Interest attributable to convertible senior notes, net of income taxes
393

 
—

 
782

 
—

Net earnings for earnings per share
$
28,536

 
$
8,005

 
$
40,966

 
$
3,251

Basic earnings per share
$
0.78

 
$
0.24

 
$
1.12

 
$
0.10

Diluted earnings per share (1)
$
0.74

 
$
0.24

 
$
1.06

 
$
0.10

Antidilutive stock options not included in the calculation of diluted income per share
5

 
260

 
3

 
255

 
(1)
In the third quarter of 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.