Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Computations of Basic and Diluted Earnings Per Share

The computations of basic and diluted EPS are set forth below:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017				2016		2017				2016
	(in thousands, except per share  amounts, unaudited)
Numerator for basic and diluted EPS — net income (loss) allocated to common stockholders	$	(5,912	)		$	13,110	$	(413	)		$	37,095
Denominator for basic EPS — weighted average number of shares	32,281				31,686		32,371				31,954
Add — dilutive effect of:
Weighted average number of incremental shares issuable from restricted stock units	—			(1)	7		—			(2)	7
Denominator for diluted EPS — weighted average number of shares and dilutive potential shares	32,281				31,693		32,371				31,961
Earnings (loss) per share:
Basic	$	(0.18	)		$	0.41	$	(0.01	)		$	1.16
Diluted	$	(0.18	)		$	0.41	$	(0.01	)		$	1.16

The weighted number of shares and dilutive potential shares do not include 334,048 shares of common stock, which will be issued to certain selling unitholders of Cogent, following the fourth anniversary of the acquisition if the revenue target related to the Earnout is achieved. In the event that the revenue target is achieved, such shares will be included in the Company’s share count at March 31, 2019. If the revenue target is not achieved such shares of common stock will not be issued. See "Note 5 — Fair Value of Financial Instruments".

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(1) Excludes 256 shares for the three month period ended September 30, 2017, which were considered antidilutive and thus were not included in the above calculation.

(2) Excludes 35,877 shares for the nine month period ended September 30, 2017, which were considered antidilutive and thus were not included in the above calculation.