Annual report pursuant to Section 13 and 15(d)

Computation of Net Loss From Continuing Operations Per Share of Common Stock

v2.4.1.9
Computation of Net Loss From Continuing Operations Per Share of Common Stock
12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Computation of Net Loss From Continuing Per Share of Common Stock
Computation of Net Loss From Continuing Operations Per Share of Common Stock
Basic net loss from continuing operations per common share is determined by dividing net loss from continuing operations by the basic weighted average number of shares of common stock outstanding. Diluted net loss from continuing operations per common share includes the potentially dilutive effect of common shares issued in connection with outstanding stock options using the treasury stock method and the dilutive impact of restricted stock units. Stock options and restricted stock units to acquire weighted average common shares of 1,724,000, 1,921,000 and 1,750,000 for the years ended December 31, 2014, 2013 and 2012, respectively, have been excluded from the computation of diluted weighted average shares outstanding for each respective period as their effect is anti-dilutive.
The Company calculates net loss from continuing operations per share pursuant to the two-class method, which requires all outstanding unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) to be considered participating securities and included in the computation of basic and diluted earnings per share using the two-class method. The Company included in its computation of weighted average shares outstanding approximately 78,000 weighted average outstanding shares of unvested restricted stock deemed to be participating securities for the year ended December 31, 2014. The following table identifies the components of net loss from continuing operations per basic and diluted share (in thousands, except for per share data):
 
December 31,
 
2014
 
2013
 
2012
Shares outstanding at end of period
9,127

 
8,674

 
8,654

Basic weighted average shares outstanding
8,836

 
8,691

 
9,971

Dilutive effect of stock options and restricted stock units

 

 

Total diluted weighted average shares outstanding
8,836

 
8,691

 
9,971

Net loss from continuing operations
$
(22,343
)
 
$
(16,221
)
 
$
(53,790
)
Net loss from continuing operations per basic and diluted share
$
(2.53
)
 
$
(1.87
)
 
$
(5.39
)