Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share

v2.4.0.6
Net Loss Per Common Share
 14 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Net Loss Per Common Share

NOTE 2 — NET LOSS PER COMMON SHARE

Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is computed by giving effect to all potential dilutive common shares, including outstanding options and warrants.

Potential dilutive common shares also include the dilutive effect of the common stock underlying in-the-money stock options and warrants that were calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, the exercise price of an option or warrant is assumed to be used to repurchase shares in the current period. In addition, the average amount of compensation cost for in-the-money options, if any, for future service that the Company has not yet recognized when the option is exercised, is also assumed to repurchase shares in the current period. A reconciliation of the numerator and denominator used in the calculation is as follows (in thousands, except per share amounts):

 

     Three Months Ended
March 31,		  
     2013     2012  

Numerator:

     

Net loss

    $ (9,214 )    $ (115,533 ) 
  

 

 

    

 

 

  

Denominator:

     

Weighted average common shares outstanding

      56,486        50,326   
  

 

 

    

 

 

  

Net loss per share

     

Basic

    $ (0.16 )    $ (2.30 ) 

Diluted

    $ (0.16 )    $ (2.30 ) 
  

 

 

    

 

 

  

The following outstanding warrants, options and purchase rights under the Company’s 2004 Employee Stock Purchase Plan were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an antidilutive effect (in thousands):

 

     As of March 31,  
     2013      2012  

Shares issuable upon exercise of warrants

      11,573         13,648   

Shares issuable upon exercise of stock options

      6,481         3,828   

Shares issuable related to the ESPP

      48         42