Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

 v2.3.0.11
Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share, or EPS, for the three and six months ended June 30, 2011 and 2010:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
(in thousands, except share data)
2011
 
2010
 
2011
 
2010
Numerator:
 
 
 
 
 
 
 
Net income (loss) to common stockholders for basic and diluted earnings per share
$
(984
)
 
$
4,088

 
$
21,393

 
$
9,415

Denominator:
 
 
 
 
 
 
 
Weighted average common shares
77,042,875

 
22,438,121

 
61,388,974

 
17,933,689

Weighted average restricted stock shares
58,731

 
28,570

 
55,004

 
25,383

Basic and diluted weighted average shares outstanding
77,101,606

 
22,466,691

 
61,443,978

 
17,959,072

Basic and Diluted Earnings Per Share:
$
(0.01
)
 
$
0.18

 
$
0.35

 
$
0.52


For the three and six months ended June 30, 2011 and 2010, the Company has assumed that no warrants would be exercised as the weighted average market value per share of the Company's common stock was below the strike price of the warrants and the warrants would be anti-dilutive.