| Schedule of Earnings Per Share, Basic and Diluted |
The following table summarizes the computation of basic and diluted earnings per share:
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THREE MONTHS ENDED |
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NINE MONTHS ENDED |
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March 31, |
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March 31, |
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2015 |
|
2014 |
|
2015 |
|
2014 |
|
(In thousands, except share and per share amounts) |
Loss from continuing operations, net of tax |
$ |
(2,280 |
) |
|
$ |
(3,072 |
) |
|
$ |
(7,793 |
) |
|
$ |
(9,364 |
) |
Preferred stock dividend |
(437 |
) |
|
(432 |
) |
|
(1,296 |
) |
|
(1,267 |
) |
Net loss from continuing operations, including preferred stock dividends |
(2,717 |
) |
|
(3,504 |
) |
|
(9,089 |
) |
|
(10,631 |
) |
Net income from discontinued operations |
— |
|
|
27,593 |
|
|
— |
|
|
24,937 |
|
Net loss attributable to non-controlling interest in subsidiary |
165 |
|
|
— |
|
|
335 |
|
|
— |
|
Net (loss) income attributable to common stockholders |
$ |
(2,552 |
) |
|
$ |
24,089 |
|
|
$ |
(8,754 |
) |
|
$ |
14,306 |
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|
Basic weighted average shares outstanding |
45,701,107 |
|
|
45,348,709 |
|
|
45,677,673 |
|
|
45,348,753 |
|
Add: dilutive effects of in-the-money stock options and non-vested restricted stock grants (1)
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— |
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— |
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— |
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|
— |
|
Diluted weighted average common shares outstanding |
45,701,107 |
|
|
45,348,709 |
|
|
45,677,673 |
|
|
45,348,753 |
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|
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Basic loss per common share: |
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|
Net loss from continuing operations attributable to Magellan Petroleum Corporation, including preferred stock dividends |
$(0.06) |
|
$(0.08) |
|
$(0.19) |
|
$(0.23) |
Net income from discontinued operations |
$0.00 |
|
$0.61 |
|
$0.00 |
|
$0.55 |
Net (loss) income attributable to common stockholders |
$(0.06) |
|
$0.53 |
|
$(0.19) |
|
$0.32 |
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|
Diluted loss per common share: |
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|
|
|
Net loss from continuing operations attributable to Magellan Petroleum Corporation, including preferred stock dividends |
$(0.06) |
|
$(0.08) |
|
$(0.19) |
|
$(0.23) |
Net income from discontinued operations |
$0.00 |
|
$0.61 |
|
$0.00 |
|
$0.55 |
Net (loss) income attributable to common stockholders |
$(0.06) |
|
$0.53 |
|
$(0.19) |
|
$0.32 |
(1) All diluted earnings per share calculations are dictated by results from continuing operations; accordingly, there were no dilutive effects on earnings per share in the periods presented since all such periods had a net loss from continuing operations.
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Potentially dilutive securities excluded from the calculation of diluted shares outstanding in periods with net losses are as follows:
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THREE MONTHS ENDED |
|
NINE MONTHS ENDED |
|
March 31, |
|
March 31, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
In-the-money stock options |
— |
|
|
5,143,666 |
|
|
7,776,666 |
|
|
907,500 |
|
Non-vested restricted stock |
350,000 |
|
|
450,000 |
|
|
350,000 |
|
|
450,000 |
|
Convertible preferred stock |
20,798,719 |
|
|
20,089,436 |
|
|
20,798,719 |
|
|
20,089,436 |
|
Total |
21,148,719 |
|
|
25,683,102 |
|
|
28,925,385 |
|
|
21,446,936 |
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|