Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2018

Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Common Share Computations

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Basic:
Net (loss) income	$	(6,380	)	$	(11,951	)	$	(26,859	)	$	21,495
Less deemed dividend related to beneficial conversion feature on Series B Preferred Stock		(12,500	)		—			(12,500	)		—
Net (loss) income attributable to common stockholders, basic	$	(18,880	)	$	(11,951	)	$	(39,359	)	$	21,495

Weighted average common shares outstanding		64,900,007			55,604,708			60,599,456			55,170,569

Basic (loss) income per common share	$	(0.29	)	$	(0.21	)	$	(0.65	)	$	0.39

Diluted:
Effect of dilutive securities:
Net (loss) income attributable to common stockholders, diluted	$	(18,880	)	$	(11,951	)	$	(39,359	)	$	21,495

Weighted average common shares outstanding		64,900,007			55,604,708			60,599,456			55,170,569
Effect of dilutive options and warrants		—			—			—			1,033,789

Diluted weighted average common shares outstanding		64,900,007			55,604,708			60,599,456			56,204,358

Diluted (loss) income per common share	$	(0.29	)	$	(0.21	)	$	(0.65	)	$	0.38