EARNINGS PER SHARE
HSNi computes basic earnings per share using the weighted average number of common shares outstanding for the period. HSNi computes diluted earnings per share using the treasury stock method, which includes the weighted average number of common shares outstanding for the period plus the potential dilution that could occur if various equity awards to issue common stock were exercised or restricted equity awards were vested resulting in the issuance of common stock that could share in HSNi’s earnings.
The following table presents HSNi’s basic and diluted earnings per share (in thousands, except per share data):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2013 |
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2012 |
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2013 |
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2012 |
Net income (loss): |
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Continuing operations |
$ |
42,052 |
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$ |
17,558 |
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$ |
116,876 |
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$ |
80,457 |
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Discontinued operations |
— |
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128 |
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— |
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(5,854 |
) |
Net income |
$ |
42,052 |
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$ |
17,686 |
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$ |
116,876 |
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$ |
74,603 |
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Weighted average number of shares outstanding: |
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Basic |
53,234 |
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55,476 |
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53,849 |
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56,913 |
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Dilutive effect of stock-based compensation awards |
1,145 |
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1,609 |
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1,274 |
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1,611 |
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Diluted |
54,379 |
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57,085 |
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55,123 |
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58,524 |
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Net income (loss) per share - basic: |
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Continuing operations |
$ |
0.79 |
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$ |
0.32 |
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$ |
2.17 |
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$ |
1.41 |
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Discontinued operations |
— |
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— |
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— |
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(0.10 |
) |
Net income |
$ |
0.79 |
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$ |
0.32 |
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$ |
2.17 |
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$ |
1.31 |
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Net income (loss) per share - diluted: |
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Continuing operations |
$ |
0.77 |
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$ |
0.31 |
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$ |
2.12 |
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$ |
1.37 |
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Discontinued operations |
— |
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— |
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— |
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(0.10 |
) |
Net income |
$ |
0.77 |
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$ |
0.31 |
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$ |
2.12 |
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$ |
1.27 |
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Unexercised employee stock options and stock appreciation rights and unvested restricted stock units excluded from the diluted EPS calculation because their effect would have been antidilutive |
431 |
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731 |
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432 |
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|
807 |
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