Net Loss Per Common Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Net Loss Per Common Share

Note 8. Net Loss Per Common Share

Net loss per common share—basic is calculated by dividing Net loss by the weighted average number of shares of common stock outstanding during the period. Net loss per common share—diluted assumes the conversion of all potentially dilutive securities and is calculated by dividing Net loss by the sum of the weighted average number of shares of common stock outstanding plus potentially dilutive securities. Net loss per common share—diluted considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. A reconciliation of Loss per common share is as follows:

	Years Ended December 31,
(In thousands, except per share amounts)	2016			2015			2014
Net loss	$	(54,541	)	$	(116,655	)	$	(28,834	)
Net loss per common share:
Basic	$	(2.92	)	$	(8.43	)	$	(3.11	)
Diluted	$	(2.92	)	$	(8.43	)	$	(3.11	)
Weighted average common shares outstanding
Basic		18,651,582			13,835,128			9,279,324
Add potentially dilutive securities:
Nonvested restricted stock units		—			—			—
Diluted weighted average common shares outstanding		18,651,582			13,835,128			9,279,324

For the year ended December 31, 2016, the Company excluded 52,844 shares for the dilutive effect of restricted stock units in calculating diluted earnings per share as the effect was anti-dilutive due to the net loss incurred this period.  For the years ended December 31, 2015 and 2014, there were no restricted stock units issued or outstanding under the Company’s long-term incentive plan.