13. Net Loss Per
Share
Earnings per share are
presented in accordance with authoritative guidance which requires
the presentation of “basic” and “diluted”
earnings per share. Basic earnings per share is computed by
dividing earnings available to common shareholders by the
weighted-average shares of common stock outstanding during the
period. For the purposes of calculating diluted earnings per share,
the denominator includes both the weighted average number of shares
of common stock outstanding during the period and the weighted
average number of shares of potential common stock, such as stock
options and RSUs, calculated using the treasury stock
method.
The following table sets
forth our computation of basic and diluted net loss per common
share (amounts in thousands, except per share amounts):
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Three Months
Ended |
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Six Months
Ended |
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July 31, |
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July 31, |
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2013 |
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2012 |
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2013 |
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2012 |
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Net income (loss) from
continuing operations—basic
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$ |
343 |
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$ |
(8,098 |
) |
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$ |
(1,677 |
) |
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$ |
(8,385 |
) |
Net (loss) income from
discontinued operations—basic and diluted
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|
(558 |
) |
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2,100 |
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(523 |
) |
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(17,190 |
) |
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Net
loss—basic
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$ |
(215 |
) |
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$ |
(5,998 |
) |
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$ |
(2,200 |
) |
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$ |
(25,575 |
) |
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Weighted average shares
used in computing loss per share—basic
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32,584 |
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32,629 |
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32,547 |
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32,585 |
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Dilutive potential common
stock equivalents (1,2)
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681 |
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534 |
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707 |
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507 |
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Weighted average shares
used in computing income per share—diluted (1)
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33,265 |
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33,163 |
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33,254 |
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33,092 |
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Net loss per
share—basic:
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Income (loss) from
continuing operations
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$ |
0.01 |
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$ |
(0.25 |
) |
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$ |
(0.05 |
) |
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$ |
(0.25 |
) |
(Loss) income from
discontinued operations
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|
(0.02 |
) |
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0.07 |
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(0.02 |
) |
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(0.53 |
) |
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Net loss per
share—basic
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$ |
(0.01 |
) |
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$ |
(0.18 |
) |
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$ |
(0.07 |
) |
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$ |
(0.78 |
) |
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Net loss per
share—diluted:
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Income (loss) from
continuing operations
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$ |
0.01 |
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$ |
(0.25 |
) |
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$ |
(0.05 |
) |
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$ |
(0.25 |
) |
(Loss) income from
discontinued operations
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|
(0.02 |
) |
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0.07 |
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(0.02 |
) |
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(0.53 |
) |
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Net loss per
share—diluted
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$ |
(0.01 |
) |
|
$ |
(0.18 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.78 |
) |
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(1) |
Basic and diluted net loss
per share for each period presented is the same. We did not include
the securities described in the following table in the computation
of diluted net loss per share because these securities would have
an anti-dilutive effect due to our net loss for those periods. We
used diluted shares when computing the income per share from
discontinued operations for the three months ended July 31,
2012 (amounts in thousands): |
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Three Months Ended |
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Six Months Ended |
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July 31, |
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July 31, |
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2013 |
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2012 |
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2013 |
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2012 |
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Stock options
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192 |
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53 |
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213 |
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|
50 |
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Restricted stock
units
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489 |
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481 |
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494 |
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457 |
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Total shares excluded from
calculation of diluted loss per share
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681 |
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534 |
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707 |
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507 |
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(2) |
We did not include the
securities described in the following table in the computation of
diluted loss per share because these securities were anti-dilutive
during the corresponding periods as the exercise prices of these
common shares were above the market price of the common stock for
all periods presented (amounts in thousands): |
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Three Months Ended |
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Six Months Ended |
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July 31, |
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July 31, |
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2013 |
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2012 |
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2013 |
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2012 |
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Shares issuable upon the
exercise of stock options that are anti-dilutive
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691 |
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1,225 |
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634 |
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670 |
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