Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

v2.4.0.6
Net Income (Loss) Per Share
 3 Months Ended
Mar. 31, 2013
Net Income (Loss) Per Share [Abstract]  
Net Income (Loss) Per Share

3. Net Income (Loss) Per Share

Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per common share gives effect to all potentially dilutive common shares outstanding for the period. The potentially dilutive securities include stock options and warrants, which are calculated using the treasury stock method which is calculated using the if-converted method.

Diluted net loss per common share used the same weighted average number of common shares outstanding for the three months ended March 31, 2012, as calculated for the basic net loss per common share as the inclusion of any potential dilutive securities would be anti-dilutive. In addition, certain potential dilutive securities were excluded from the dilution calculation for the three months ended March 31, 2013, and 2012, as their inclusion would have been anti-dilutive.

The following table sets forth the reconciliation of the numerator and denominator used in the computation of basic and diluted net income (loss) per common share for the three months ended March 31, 2013, and 2012:

 

                 
     Three months ended March 31,  

(in thousands, except per share amounts)

       2013             2012      

Numerator:

                

Net income (loss) used for basic and diluted calculation

   $ 6,001     $ (5,163 ) 
   

 

 

    

 

 

  

Denominator:

                

Basic weighted-average outstanding common shares

     78,256       59,387  

Effect of dilutive potential common shares resulting from options

     2,237       —    

Effect of dilutive potential common shares resulting from warrants

     6,269       —    
   

 

 

    

 

 

  

Weighted-average shares outstanding—diluted

   $ 86,762     $ 59,387  
   

 

 

    

 

 

  

Net income (loss) per common share:

                

Basic

   $ 0.08     $ (0.09 ) 

Diluted

   $ 0.07     $ (0.09 ) 

The table below presents common shares underlying stock options and warrants that are excluded from the calculation of the weighted average number of common shares outstanding used for the calculation of diluted net income (loss) per common share. These are excluded from the calculation due to their anti-dilutive effect for the three months ended March 31, 2013 and 2012:

 

                 
    Three months ended March 31,  

(in thousands)

   2013     2012  

Weighted-average anti-dilutive common shares resulting from options

     491       2,455  

Weighted-average anti-dilutive common shares resulting from warrants

     7       1,605  
   

 

 

    

 

 

  
      498       4,060