Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 12 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Note 8 - Earnings Per Share
The following table summarizes the computation of basic and diluted earnings per share:
 
June 30,
 
2012
 
2011
 
2010
 
(In thousands, except share and per share amounts)
Net income (loss) attributable to Magellan Petroleum Corporation
$
26,498

 
$
(32,432
)
 
$
(1,446
)
 
 
 
 
 
 
Basic weighted-average shares outstanding
53,592,958

 
52,398,936

 
51,410,596

Add: dilutive effects of stock options and unvested stock grants (1)
448,269

 
—

 
—

Diluted weighted-average common shares outstanding
$
54,041,227

 
$
52,398,936

 
$
51,410,596

 
 
 
 
 
 
Basic net loss per common share
$
0.49

 
$
(0.62
)
 
$
(0.03
)
Diluted net loss per common share
$
0.49

 
$
(0.62
)
 
$
(0.03
)
(1) There is no dilutive effect on earnings per share in periods with net losses.
Potentially dilutive securities excluded from the calculation of diluted shares outstanding include the following:
 
June 30,
 
2012
 
2011
 
2010
Stock options
100,000

 
—

 
—

Non-vested restricted stock
—

 
104,167

 
208,334

Total potentially dilutive securities
100,000

 
104,167


208,334