Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

 v2.3.0.11
Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
NOTE 9 — EARNINGS (LOSS) PER SHARE
     Earnings (loss) per share (“EPS”) is calculated on both a basic and a diluted basis. Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted from the issuance of common stock that then shared in earnings, excluding common shares in treasury. Unvested restricted stock is excluded from the calculation of weighted-average common shares for basic EPS. For diluted EPS, weighted-average common shares include the impact of restricted stock under the treasury method.
     The following tables present a reconciliation of the components used to derive basic and diluted EPS for the periods indicated:
                                                 
    2011     2010  
            (Denominator)                     (Denominator)        
    (Numerator)     Weighted-     Per     (Numerator)     Weighted-     Per  
    Net     Average     Share     Net     Average     Share  
    Income     Shares     Amount     Loss     Shares     Amount  
    (Dollars in Thousands, Except Per Share Data)  
Three Months Ended June 30:
                                               
 
Basic EPS
  $ 8,001       151,104,636     $ 0.05     $ (29,257 )     51,036,573     $ (0.57 )
Effect of Dilutive Securities — Options, Warrants and Unvested Restricted Stock
    —       153,754       —       —       —       —  
 
                                   
Diluted EPS
  $ 8,001       151,258,390     $ 0.05     $ (29,257 )     51,036,573     $ (0.57 )
 
                                   
 
                                               
Six Months Ended June 30:
                                               
Basic EPS
  $ 18,438       151,082,945     $ 0.12     $ (78,743 )     51,017,885     $ (1.54 )
Effect of Dilutive Securities — Options, Warrants and Unvested Restricted Stock
    —       174,405       —       —       —       —  
 
                                   
 
Diluted EPS
  $ 18,438       151,257,350     $ 0.12     $ (78,743 )     51,017,885     $ (1.54 )
 
                                   
     For the three months ended June 30, 2011 and 2010, there were 3,192,891 and 1,266,115 options, warrants and unvested restricted stock outstanding, respectively, that were not included in the computation of diluted EPS because their effect would be anti-dilutive. For the six months ended June 30, 2011 and 2010, there were 1,192,891 and 1,266,115 options, warrants and unvested restricted stock outstanding, respectively, that were not included in the computation of diluted EPS because their effect would be anti-dilutive.