Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2015

Earnings (Loss) Per Share

5. Earnings (Loss) Per Share

Basic earnings (loss) per share (“EPS”) is calculated in accordance with Accounting Standards Codification (“ASC”) 260, Earnings Per Share, by dividing net income or loss attributable to common stockholders by the weighted average common stock outstanding. Diluted EPS is calculated by adjusting weighted average common shares outstanding for the dilutive effect of common stock options and warrants. In periods in which a net loss is recorded, no effect is given to potentially dilutive securities, since the effect would be antidilutive. Securities that could potentially dilute basic EPS in the future are not included in the computation of diluted EPS during periods where there is a net loss because to do so would be antidilutive. The calculations of basic and diluted net loss per share are as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015		2014			2015			2014
Net income (loss) (numerator)	$	26,259	$	(15,667	)	$	(21,982	)	$	(47,412	)
Weighted-average shares, in thousands (denominator)		136,439		99,031			121,896			97,622
Basic net income (loss) per share	$	0.19	$	(0.16	)	$	(0. 18	)	$	(0.49	)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015		2014			2015			2014
Net income (loss) (numerator)	$	26,259	$	(15,667	)	$	(21,982	)	$	(47,412	)
Weighted-average shares, in thousands (denominator)		140,024		99,031			121,896			97,622
Diluted net income (loss) per share	$	0.19	$	(0.16	)	$	(0.18	)	$	(0.49	)

Potentially dilutive securities outstanding as of September 30, 2015 and 2014 are as follows:

	September 30,
	2015		2014
Stock options		8,441		7,839
Warrants		2,833		2,844
Total potentially dilutive securities outstanding		11,274		10,683

For the three months ended September 30, 2015, differences between basic and diluted weighted average common shares outstanding resulted from the dilutive effect of warrants outstanding and awards granted under the Company’s stock incentive plan.

Excluded from the computation of diluted net income per share are stock options to purchase 3,816 shares of common stock that were outstanding during the three months ended September 30, 2015. These options were outstanding but were excluded because they were antidilutive, as the option exercise price was greater than the average market price of the Company’s common stock.