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WBMD » Topics » Net Income (Loss) Per Common Share

This excerpt taken from the WBMD 10-Q filed May 11, 2009.
Net Income (Loss) Per Common Share
 
Basic and diluted net income (loss) per common share are presented in conformity with Statement of Financial Accounting Standards (“SFAS”) No. 128, “Earnings Per Share” (“SFAS 128”). In accordance with SFAS 128, basic income (loss) per common share has been computed using the weighted-average number of shares of common stock outstanding during the periods presented. Diluted income (loss) per common share


8

Table of Contents

 
WEBMD HEALTH CORP.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
has been computed using the weighted-average number of shares of common stock outstanding during the periods, increased to give effect to potentially dilutive securities.
 
                 
    Three Months Ended
 		 
    March 31,  
    2009     2008  
 
Numerator:
               
Income (loss) from continuing operations
  $ 3,239     $ (22,963 )
                 
Loss from discontinued operations, net of tax
  $ (423 )   $ (372 )
                 
Denominator: (shares in thousands)
               
Weighted-average shares — Basic
    57,575       57,636  
Employee stock options and restricted stock
    534       —  
                 
Adjusted weighted-average shares after assumed conversions — Diluted
    58,109       57,636  
                 
Basic and diluted income (loss) per common share:
               
Income (loss) from continuing operations
  $ 0.06     $ (0.40 )
Loss from discontinued operations
    (0.01 )     (0.00 )
                 
Net income (loss)
  $ 0.05     $ (0.40 )
                 
 
The impact of certain shares issued to the former owners of Subimo, LLC pursuant to the purchase agreement (as amended, the “Subimo Purchase Agreement”) for the Company’s acquisition of Subimo, LLC were considered in the calculation of basic and diluted weighted average shares outstanding during the three months ended March 31, 2008. Under the terms of the Subimo Purchase Agreement, the Company had deferred the issuance of 640,930 shares of Class A Common Stock (“Deferred Shares”) until December 2008. Prior to December 2008, up to 246,508 of the Deferred Shares were available to be used to settle any outstanding claims or warranties the Company may have had against the sellers. For purposes of calculating net loss per share for the three months ended March 31, 2008, the impact of 394,422 of the Deferred Shares (representing the non-contingent portion of the Deferred Shares) was included in the calculation of basic weighted average shares outstanding. The additional 246,508 Deferred Shares were considered if their effect was dilutive.
 
The Company has excluded certain outstanding stock options, restricted stock and Deferred Shares from the calculation of diluted income (loss) per common share during the periods in which such securities were anti-dilutive. The total number of shares that could potentially dilute income per common share in the future that were not included in the calculation of diluted income (loss) per common share was 7,833,044 and 5,736,129 for the three months ended March 31, 2009 and 2008, respectively.
 
This excerpt taken from the WBMD 10-Q filed Nov 9, 2007.
Net Income (Loss) Per Common Share
 
Basic and diluted net income (loss) per common share are presented in conformity with SFAS No. 128, “Earnings Per Share.” In accordance with SFAS No. 128, basic income (loss) per common share has been computed using the weighted-average number of shares of common stock outstanding during the periods presented. Diluted income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the periods, increased to give effect to potentially dilutive securities.
 
                                 
    Three Months Ended
 		    Nine Months Ended
 		 
    September 30,     September 30,  
    2007     2006     2007     2006  
 
Numerator:
                               
Net income (loss)
  $ 11,492     $ 490     $ 17,588     $ (3,422 )
                                 
Denominator: (shares in thousands)
                               
Weighted-average shares — Basic
    57,154       56,059       57,067       56,056  
Employee stock options and restricted stock
    2,694       2,063       2,675       —  
                                 
Adjusted weighted-average shares after assumed conversions — Diluted
    59,848       58,122       59,742       56,056  
                                 
Net income (loss) per common share:
                               
Basic
  $ 0.20     $ 0.01     $ 0.31     $ (0.06 )
                                 
Diluted
  $ 0.19     $ 0.01     $ 0.29     $ (0.06 )
                                 
 
Included in basic and diluted shares for the three and nine months ended September 30, 2007 is the impact of shares to be issued pursuant to the purchase agreement of Subimo, LLC (see Note 4 — Business Combinations). The Company deferred the issuance of 640,930 shares of Class A common stock (“Deferred


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Table of Contents

 
WEBMD HEALTH CORP.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
Shares”) until December 2008. Issuance of a portion of these shares may be further deferred until December 2010 subject to certain conditions. A maximum of 246,508 of the Deferred Shares may be used to settle any outstanding claims or warranties the Company may have against the seller. For purposes of calculating basic net income per share, the impact of 394,422 shares representing the non-contingent portion of the Deferred Shares was included. For purposes of calculating diluted net income per share, the impact of all of the 640,930 Deferred Shares was included.
 
The Company has excluded certain outstanding stock options from the calculation of diluted income (loss) per common share because such securities were anti-dilutive during the periods presented. The total number of shares excluded from the calculation of diluted income (loss) per share was 1,186,855 and 1,252,553 for the three and nine months ended September 30, 2007, respectively, and 760,483 and 5,334,467 for the three and nine months ended September 30, 2006, respectively.
 
This excerpt taken from the WBMD 10-Q filed Aug 9, 2007.
Net Income (Loss) Per Common Share
 
Basic and diluted net income (loss) per common share are presented in conformity with SFAS No. 128, “Earnings Per Share.” In accordance with SFAS No. 128, basic income (loss) per common share has been computed using the weighted-average number of shares of common stock outstanding during the periods presented. Diluted income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the periods, increased to give effect to potentially dilutive securities.
 
                                 
    Three Months Ended
 		    Six Months Ended
 		 
    June 30,     June 30,  
    2007     2006     2007     2006  
 
Numerator:
                               
Net income (loss)
  $ 5,390     $ (853 )   $ 6,096     $ (3,912 )
                                 
Denominator: (shares in thousands)
                               
Weighted-average shares — Basic
    57,071       56,054       57,023       56,054  
Employee stock options and restricted stock
    2,677       —       2,666       —  
                                 
Adjusted weighted-average shares after assumed conversions — Diluted
    59,748       56,054       59,689       56,054  
                                 
Net income (loss) per common share:
                               
Basic
  $ 0.09     $ (0.02 )   $ 0.11     $ (0.07 )
                                 
Diluted
  $ 0.09     $ (0.02 )   $ 0.10     $ (0.07 )
                                 
 
Included in basic and diluted shares for the three and six months ended June 30, 2007 is the impact of shares to be issued pursuant to the purchase agreement of Subimo, LLC (see Note 4 — Business Combinations). The Company deferred the issuance of 640,930 shares of Class A common stock (“Deferred Shares”)


8

Table of Contents

 
WEBMD HEALTH CORP.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

until December 2008. Issuance of a portion of these shares may be further deferred until December 2010 subject to certain conditions. A maximum of 246,508 of the Deferred Shares may be used to settle any outstanding claims or warranties the Company may have against the seller. For purposes of calculating basic net income per share, the impact of 394,422 shares representing the non-contingent portion of the Deferred Shares was included. For purposes of calculating diluted net income per share, the impact of all of the 640,930 Deferred Shares was included.
 
The Company has excluded certain outstanding stock options from the calculation of diluted income (loss) per common share because such securities were anti-dilutive during the periods presented. The total number of shares excluded from the calculation of diluted income (loss) per share was 1,252,390 and 1,285,402 for the three and six months ended June 30, 2007, respectively, and 5,285,423 and 5,233,631 for the three and six months ended June 30, 2006, respectively.
 
This excerpt taken from the WBMD 10-Q filed May 10, 2007.
Net Income (Loss) Per Common Share
 
Basic and diluted net income (loss) per common share are presented in conformity with SFAS No. 128, “Earnings Per Share.” In accordance with SFAS No. 128, basic income (loss) per common share has been computed using the weighted-average number of shares of common stock outstanding during the periods presented. Diluted income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the periods, increased to give effect to potentially dilutive securities.
 
                 
    Three Months Ended March 31,  
    2007     2006  
 
Numerator:
               
Net income (loss)
  $ 706     $ (3,059 )
                 
Denominator: (shares in thousands)
               
Weighted-average shares — Basic
    56,976       56,054  
Employee stock options and restricted stock
    2,654       —  
                 
Adjusted weighted-average shares after assumed conversions — Diluted
    59,630       56,054  
                 
Net income (loss) per common share:
               
Basic and diluted
  $ 0.01     $ (0.05 )
                 
 
Included in basic and diluted shares for the three months ended March 31, 2007 is the impact of shares to be issued pursuant to the purchase agreement for the acquisition of Subimo, LLC (see Note 4 — Business Combinations). The Company deferred the issuance of 640,930 shares of Class A common stock (“Deferred Shares”) until December 2008. Issuance of a portion of these shares may be further deferred until December 2010 subject to certain conditions. A maximum of 246,508 of the Deferred Shares may be used to settle any


8

Table of Contents

 
WEBMD HEALTH CORP.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

outstanding claims or warranties the Company may have against the sellers. For purposes of calculating basic net income per share, the impact of 394,422 shares representing the non-contingent portion of the Deferred Shares was included. For purposes of calculating diluted net income per share, the weighted average impact of all of the 640,930 Deferred Shares was included.
 
The Company has excluded certain outstanding stock options from the calculation of diluted income (loss) per common share because such securities were anti-dilutive during the periods presented. The total number of shares excluded from the calculation of diluted income (loss) per share was 1,318,413 and 5,249,414 for the three months ended March 31, 2007 and 2006, respectively.
 
This excerpt taken from the WBMD 10-Q filed May 10, 2007.
Net Income (Loss) Per Common Share
 
Basic and diluted net income (loss) per common share are presented in conformity with SFAS No. 128, “Earnings Per Share.” In accordance with SFAS No. 128, basic income (loss) per common share has been computed using the weighted-average number of shares of common stock outstanding during the periods presented. Diluted income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the periods, increased to give effect to potentially dilutive securities.
 
                                 
    Three Months Ended
 		    Nine Months Ended
 		 
    September 30,     September 30,  
    2006     2005     2006     2005  
    As restated     As restated     As restated     As restated  
 
Numerator:
                               
Net income (loss)
  $ 490     $ 3,532     $ (3,422 )   $ 1,352  
                                 
Denominator: (shares in thousands)
                               
Weighted-average shares — Basic
    56,059       48,273       56,056       48,158  
Employee stock options and restricted stock
    2,063       29       —       9  
                                 
Adjusted weighted-average shares after assumed conversions — Diluted
    58,122       48,302       56,056       48,167  
                                 
Net income (loss) per common share:
                               
Basic and diluted
  $ 0.01     $ 0.07     $ (0.06 )   $ 0.03  
                                 


6

Table of Contents

 
WEBMD HEALTH CORP.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

The Company has excluded certain outstanding stock options from the calculation of diluted income (loss) per common share because such securities were anti-dilutive during the periods presented. The total number of shares excluded from the calculation of diluted income (loss) per share was 760,483 and 5,334,467 for the three and nine months ended September 30, 2006, respectively. There were no shares excluded from the calculation of diluted income (loss) per share for the three and nine months ended September 30, 2005.
 
This excerpt taken from the WBMD 10-Q filed Nov 13, 2006.
Net Income (Loss) Per Common Share
 
Basic and diluted net income (loss) per common share are presented in conformity with SFAS No. 128, “Earnings Per Share.” In accordance with SFAS No. 128, basic income (loss) per common share has been computed using the weighted-average number of shares of common stock outstanding during the periods presented. Diluted income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the periods, increased to give effect to potentially dilutive securities.
 
                                 
    Three Months Ended
 		    Nine Months Ended
 		 
    September 30,     September 30,  
    2006     2005     2006     2005  
 
Numerator:
                               
Net income (loss)
  $ 992     $ 4,123     $ (4,333 )   $ 1,614  
                                 
Denominator: (shares in thousands)
                               
Weighted-average shares — Basic
    56,059       48,273       56,056       48,158  
Employee stock options and restricted stock
    2,063       29       —       9  
                                 
Adjusted weighted-average shares after assumed conversions — Diluted
    58,122       48,302       56,056       48,167  
                                 
Net income (loss) per common share:
                               
Basic and diluted
  $ 0.02     $ 0.09     $ (0.08 )   $ 0.03  
                                 
 
The Company has excluded certain outstanding stock options from the calculation of diluted income (loss) per common share because such securities were anti-dilutive during the periods presented. The total number of shares excluded from the calculation of diluted income (loss) per share was 760,483 and 5,334,467 for the three and nine months ended September 30, 2006, respectively. There were no shares excluded from the calculation of diluted income (loss) per share for the three and nine months ended September 30, 2005.


8

Table of Contents

 
WEBMD HEALTH CORP.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

EXCERPTS ON THIS PAGE:

10-Q
May 11, 2009
10-Q
Nov 9, 2007
10-Q
Aug 9, 2007
10-Q
May 10, 2007
10-Q
May 10, 2007
10-Q
Nov 13, 2006

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