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3. Net Loss Per Common Share
Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during each period. Diluted net loss per share is computed by dividing net loss by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include options and P units, is computed using the treasury stock method.
The basic and diluted net loss per share calculations are presented below (in thousands, except for per share amounts):
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|
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Successor
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Predecessor
|
|
|
|
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Three Months
Ended
June 30,
2011
|
|
For the
period From
May 1,
2010
Through
June 30,
2010
|
|
For the
Period From
April 1,
Through
April 30,
2010
|
|
|
Basic net loss per common share
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(4,966
|
)
|
$
|
(12,173
|
)
|
$
|
(267
|
)
|
|
Weighted-average common shares outstanding(1)
|
|
27,738,534
|
|
24,900,332
|
|
52,253
|
|
|
Basic net loss per common share
|
|
$
|
(0.18
|
)
|
$
|
(0.49
|
)
|
$
|
(5.11
|
)
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(1) As the Company was in a net loss position for each of the periods presented there was no dilutive effect on net loss per common share as the Class P units issued by the predecessor and options issued by the successor are antidilutive. Therefore, both basic and diluted net loss per common share were $(0.18) for the three months ended June 30, 2011, $(0.49) for the period from May 1, 2010 through June 30, 2010 and $(5.11) for the period April 1, 2010 through April 30, 2010.
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