Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 9 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Note 9 - Earnings Per Common Share
The following table summarizes the computation of basic and diluted earnings per share:
 
THREE MONTHS ENDED
 
NINE MONTHS ENDED
 
March 31,
 
March 31,
 
2013
 
2012
 
2013
 
2012
 
(In thousands, except share and per share amounts)
Net loss attributable to Magellan Petroleum Corporation
$
(4,332
)
 
$
(4,590
)
 
$
(16,928
)
 
$
(8,207
)
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
46,084,149

 
53,835,594

 
51,302,369

 
53,592,958

Add: dilutive effects of stock options and unvested stock grants (1)
—

 
—

 
—

 
—

Diluted weighted average common shares outstanding
46,084,149

 
53,835,594

 
51,302,369

 
53,592,958

 
 
 
 
 
 
 
 
Net loss per basic and diluted share outstanding
$
(0.09
)
 
$
(0.09
)
 
$
(0.33
)
 
$
(0.15
)
(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:
 
THREE MONTHS ENDED
 
NINE MONTHS ENDED
 
March 31,
 
March 31,
 
2013
 
2012
 
2013
 
2012
Stock options
75,000

 
4,422,826

 
82,500

 
7,522,826

Non-vested restricted stock
—

 
204,167

 
—

 
204,167

Total
75,000

 
4,626,993

 
82,500

 
7,726,993