Annual report pursuant to Section 13 and 15(d)

Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS)

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Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS)
 12 Months Ended
Dec. 31, 2011
Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS) [Abstract]  
Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS)

Note 10 — Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS)

 

                         
    For the Year Ended December 31, 2011  
    Income
(Numerator) 		    Shares
(Denominator) 		    Per-Share
Amount 		 

Basic EPS

   $ (50,451,000 )      116,081,590     $ (0.43 ) 

Effect of dilutive securities:

                        

Stock options and restricted stock

     —       —     $ —  
   

 

 

    

 

 

    

 

 

  

Diluted EPS

   $ (50,451,000 )      116,081,590     $ (0.43 ) 
   
    For the Year Ended December 31, 2010  
    Income
(Numerator) 		    Shares
(Denominator) 		    Per-Share
Amount 		 

Basic EPS

   $ (14,461,000 )      114,258,965     $ (0.13 ) 

Effect of dilutive securities:

                        

Stock options and restricted stock

     —       —     $ —  
   

 

 

    

 

 

    

 

 

  

Diluted EPS:

   $ (14,461,000 )      114,258,965     $ (0.13 ) 
   
    For the Year Ended December 31, 2009  
    Income
(Numerator) 		    Shares
(Denominator) 		    Per-Share
Amount 		 

Basic EPS

   $ 9,267,000       113,000,555     $ 0.08  

Effect of dilutive securities:

                        

Stock options and restricted stock

     —       1,924,891     $ —  
   

 

 

    

 

 

    

 

 

  

Diluted EPS:

   $ 9,267,000       114,925,446     $ 0.08  

For the years ended December 31, 2011 and 2010, all potential common shares have been excluded from the calculation of diluted EPS as the company incurred a loss for each year, and therefore, inclusion of potential common shares in the calculation of diluted EPS would be anti-dilutive.

For the year ended December 31, 2009, options to purchase 58,500 shares of common stock at a price of $4.20 were outstanding during the period but were not included in the computation of diluted EPS because the options’ exercise prices were greater than the average market price of the common shares.