Western Asset Mortgage Capital Corporation Just Filed Its Quarterly Report: Note 12 — Net Loss ...


Note 12 — Net Loss per Common Share

 

The table below presents basic and diluted net income (loss) per share of common stock using the two-class method for the three months ended March 31, 2014 and 2013 (dollars, other than shares and per share amounts, in thousands):

 

 

 

For the three months
ended March 31, 2014

 

For the three months
ended March 31, 2013

 

Numerator:

 

 

 

 

 

Net loss attributable to common stockholders and participating securities for basic and diluted earnings per share

 

$

(8,441

)

$

(28,499

)

Less:

 

 

 

 

 

Dividends and undistributed earnings allocated to participating securities

 

168

 

 

Net loss allocable to common stockholders — basic and diluted

 

$

(8,609

)

$

(28,499

)

 

 

 

 

 

 

Denominator:

 

 

 

 

 

Weighted average common shares outstanding for basic earnings per share

 

26,658,665

 

24,081,315

 

Weighted average diluted shares outstanding (stock awards)

 

 

 

Weighted average diluted shares outstanding (warrants)

 

 

 

Weighted average common shares outstanding for diluted earnings per share

 

26,658,665

 

24,081,315

 

Basic earnings per common share

 

$

(0.32

)

$

(1.18

)

Diluted earnings per common share

 

$

(0.32

)

$

(1.18

)

 

The following potential common shares, which are securities or other contracts that may entitle its holder to obtain common shares, were excluded from diluted earnings per share for the three months ended March 31, 2013, since the Company had a net loss for the period and their inclusion would have been anti-dilutive: 121,357 related to warrants and 11,463 related to stock awards.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Western Asset Mortgage Capital Corporation next reports earnings on May 12, 2014.

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