| Earnings (Loss) Per Share of Common Stock |
3. Earnings (Loss) per Share of Common Stock
The following tables set forth the computation of basic and diluted
earnings (loss) per share of common stock for the three and six
months ended June 30, 2014 and 2013, respectively. We computed
basic earnings (loss) per share for the three and six months ended
June 30, 2014 and 2013, respectively, using the weighted
average number of shares outstanding during the periods. Diluted
earnings (loss) per share for the three and six months ended
June 30, 2014 and 2013, reflects additional shares of common
stock, related to our convertible senior common stock, that would
have been outstanding if dilutive potential shares of common stock
had been issued, as well as an adjustment to net income available
to common stockholders as applicable to common stockholders that
would result from their assumed issuance(dollars in thousands,
except per share amounts).
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For the three months ended June 30, |
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For the six months ended June 30, |
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2014 |
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2013 |
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2014 |
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2013 |
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Calculation of basic earnings (loss) per share of common
stock:
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Net earnings (loss) available (attributable) to common
stockholders
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$ |
86 |
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$ |
(641 |
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$ |
(14,554 |
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$ |
(1,286 |
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Denominator for basic weighted average shares of common stock
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16,547,793 |
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12,380,402 |
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16,149,467 |
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11,808,701 |
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Basic earnings (loss) per share of common stock
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$ |
0.01 |
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$ |
(0.05 |
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$ |
(0.90 |
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$ |
(0.11 |
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Calculation of diluted earnings (loss) per share of common
stock:
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Net income (loss) available (attributable) to common
stockholders
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$ |
86 |
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$ |
(641 |
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$ |
(14,554 |
) |
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$ |
(1,286 |
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Add: Income impact of assumed conversion of senior common
stock (1)
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110 |
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— |
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— |
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— |
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Net income (loss) available (attributable) to common stockholders
plus assumed conversions
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$ |
196 |
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$ |
(641 |
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$ |
(14,554 |
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$ |
(1,286 |
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Denominator for basic weighted average shares of common stock
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16,547,793 |
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12,380,402 |
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16,149,467 |
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11,808,701 |
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Effect of convertible senior common stock (1)
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347,180 |
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— |
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— |
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Denominator for diluted weighted average shares of common stock
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16,894,973 |
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12,380,402 |
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16,149,467 |
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11,808,701 |
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Diluted earnings (loss) per share of common stock
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$ |
0.01 |
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$ |
(0.05 |
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$ |
(0.90 |
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$ |
(0.11 |
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(1) |
We excluded convertible senior common
shares of 332,608 from the calculation of diluted earnings per
share for the six months ended June 30, 2014 because it was
anti-dilutive. We also excluded 195,759, and 180,753, from the
calculation of diluted earnings per share for the three and six
months ended June 30, 2013, respectively, because it was
anti-dilutive. |
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