Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share (Tables)

v2.4.0.8
Net Income (Loss) Per Share (Tables)
 6 Months Ended
Jun. 30, 2013
Net Income (Loss) Per Share [Abstract]  
The reconciliation of the numerator and denominator used in the computation of basic and diluted net income (loss) per common share

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 and six months ended June 30, 2013, and 2012:

 

                                 
    Three months ended June 30,,     Six months ended June 30,  

(in thousands, except per share amounts)

   2013     2012     2013     2012  

Numerator:

                                

Net income (loss) used for basic earnings per share

   $ 5,064     $ (1,724 )    $ 11,065     $ (6,887 ) 

Less change in fair value of warrant liability

     5,362       1,955       2,317       1,939  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net (loss) income used for diluted earnings per share

   $ (298 )    $ (3,679 )    $ 8,748     $ (8,826 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

                                

Basic weighted-average outstanding common shares

     82,527       64,984       80,403       62,185  

Effect of dilutive potential common shares resulting from options

     —         —         1,226       —    

Effect of dilutive potential common shares resulting from warrants

     32       —         4,642       5,908  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average shares outstanding—diluted

     82,559       64,984       86,271       68,093  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) per common share:

                                

Basic

   $ 0.06     $ (0.03 )    $ 0.14     $ (0.11 ) 

Diluted

   $ 0.00     $ (0.06 )    $ 0.10     $ (0.13 ) 
Calculation due to their anti-dilutive effect

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 and six months ended June 30, 2013 and 2012:

 

                                 
    Three months ended June 30,     Six months ended June 30,  

(in thousands)

   2013     2012     2013     2012  

Weighted-average anti-dilutive common shares resulting from options

     3,302       6,952       1,175       4,157  

Weighted-average anti-dilutive common shares resulting from warrants

     1,334       11,440       23       4,792  
   

 

 

    

 

 

    

 

 

    

 

 

  
      4,636       18,392       1,198       8,949