Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic net income (loss) per share was calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the three months ended March 31, 2015 and 2014. Diluted net income per share for the three months ended March 31, 2014, was calculated by adjusting outstanding shares for the dilutive effects of outstanding, but unexercised, stock options and unvested restricted stock, as calculated under the treasury stock method.

	Three Months Ended
	March 31,
	2015			2014
Net income (loss)	$	(11,213	)	$	5,295
Weighted average shares- basic	67,263			63,405
Weighted average shares- diluted	67,263			66,017
Net income (loss) per share- basic	$	(0.17	)	$	0.08
Net income (loss) per share- diluted	$	(0.17	)	$	0.08

The following outstanding Company securities were included in the above calculations of net income per share because their impact was dilutive:

	Three Months Ended
	March 31,
	2015	2014
Common stock options	—	2,027
Restricted stock awards	—	152
Restricted stock units	—	433
Total	—	2,612

The following outstanding Company securities, using the treasury stock method, were excluded from the above calculations of net income loss per share because their impact would have been anti-dilutive:

	Three Months Ended
	March 31,
	2015	2014
Common stock options	1,813	1,153
Restricted stock awards	135	—
Restricted stock units	234	—
Total	2,182	1,153

As discussed in Note 6, in December 2013, the Company issued $86.3 million aggregate principal amount of 2.25% convertible senior notes due 2018 (the “Notes”) in an underwritten public offering. Upon any conversion, the Notes may be settled, at the Company’s election, in cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock. For purposes of calculating the maximum dilutive impact, it is presumed that the Notes will be settled in common stock with the resulting potential common shares included in diluted earnings per share if the effect is more dilutive. The effect of the conversion of the Notes is excluded from the calculation of diluted income (loss) per share because the impact of these securities would be anti-dilutive. The potential dilutive effect of these securities is shown in the chart below:

	Three Months Ended
	March 31,
	2015	2014
Conversion of the Notes	3,588	3,588

The effect of the contingently issuable common stock is excluded from the calculation of basic net income (loss) per share until all necessary conditions for issuance have been satisfied. Refer to Note 9 of the Notes to the Condensed Consolidated Financial Statements for further discussion.