Note 9.—Reconciliation of (Loss) Earnings Per Share

Basic net (loss) earnings per share is computed by dividing net (loss) earnings available to common stockholders (numerator) by the weighted average number of vested, common shares outstanding during the period (denominator). Diluted net (loss) earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding plus the effect of dilutive potential common shares outstanding during the period using the if-converted method. Dilutive potential common shares include shares issuable upon conversion of Convertible Notes, dilutive effect of outstanding stock options and deferred stock units (DSUs).


	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Numerator for basic (loss) earnings per share:
Net (loss) earnings	$	(45,445)	$	2,317	$	(138,970)	$	13,384

Numerator for diluted (loss) earnings per share:
Net (loss) earnings	$	(45,445)	$	2,317	$	(138,970)	$	13,384
Interest expense attributable to convertible notes (1)		—		—		—		1,158
Net (loss) earnings plus interest expense attributable to convertible notes	$	(45,445)	$	2,317	$	(138,970)	$	14,542

Denominator for basic (loss) earnings per share (2):
Basic weighted average common shares outstanding during the period		21,071		20,916		20,996		18,928

Denominator for diluted (loss) earnings per share (2):
Basic weighted average common shares outstanding during the period		21,071		20,916		20,996		18,928
Net effect of dilutive convertible notes (1)		—		—		—		1,163
Net effect of dilutive stock options and DSU’s		—		279		—		290
Diluted weighted average common shares		21,071		21,195		20,996		20,381
Net (loss) earnings per common share:
Basic	$	(2.16)	$	0.11	$	(6.62)	$	0.71
Diluted	$	(2.16)	$	0.11	$	(6.62)	$	0.71

(1)

Adjustments to diluted (loss) earnings per share for the convertible notes for the three and nine months ended September 30, 2018 and three months ended September 30, 2017 were excluded from the calculation, as they are anti-dilutive.

(2)

Number of shares presented in thousands.

At September 30, 2018, there were 1.2 million shares attributable to the Convertible Notes and 1.2 million stock options outstanding which were anti-dilutive. At September 30, 2017, there were 1.2 million anti-dilutive stock options outstanding.