14.

Earnings per common share:

The following table reconciles the numerators and denominators of the basic and diluted loss per share computations (in thousands, except per share data).


	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017		2016
Basic:
Net income (loss)	$	(11,951	)	$	(15,977	)	$	21,495	$	(51,196	)
Weighted average common shares outstanding		55,604,708			53,767,099			55,170,569		53,531,770

Basic income (loss) per common share	$	(0.21	)	$	(0.30	)	$	0.39	$	(0.96	)

Diluted:
Effect of dilutive securities:
Net income (loss)	$	(11,951	)	$	(15,977	)	$	21,495	$	(51,196	)

Weighted average common shares outstanding		55,604,708			53,767,099			55,170,569		53,531,770
Effect of dilutive options and warrants		—			—			1,033,789		—

Diluted weighted average common shares outstanding		55,604,708			53,767,099			56,204,358		53,531,770

Diluted income (loss) per common share	$	(0.21	)	$	(0.30	)	$	0.38	$	(0.96	)

Basic earnings per common share is calculated using the weighted average shares of Common Stock outstanding during the period. In addition to the weighted average shares of Common Stock outstanding, common equivalent shares from stock options, RSUs and warrants using the treasury stock method, are included in the diluted per share calculations unless the effect of inclusion would be antidilutive. During the three months ended September 30, 2017 and 2016, outstanding stock options, RSUs and warrants of 9,638,211 and 9,986,447, respectively, were not included in the computation of diluted earnings per common share, because to do so would have had an antidilutive effect. During the nine months ended September 30, 2017 and 2016, outstanding stock options, RSUs and warrants of 5,230,179 and 10,196,872, respectively, were not included in the computation of diluted earnings per common share, because to do so would have had an antidilutive effect.