XML 27 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Earnings per Share
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Earnings per Share
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,
 
2018
 
2017
 
 
2018
 
2017
 
 
(in thousands, except per share  amounts, unaudited)
 
Numerator for basic and diluted EPS — net income (loss)
$
11,217

 
$
(5,912
)
 
 
$
28,098

 
$
(413
)
 
Denominator for basic EPS — weighted average number of shares
24,871

 
32,281

 
 
27,504

 
32,371

 
Add — dilutive effect of:
 
 
 
 
 
 
 
 
 
Restricted stock units and Cogent earnout shares
1,502

(1)
—

(2)
 
938

(1)
—

(2)
Denominator for diluted EPS — weighted average number of shares and dilutive securities
26,373

 
32,281

 
 
28,441

 
32,371

 
Earnings (loss) per share:
 
 
 
 
 
 
 
 
 
Basic EPS
$
0.45

 
$
(0.18
)
 
 
$
1.02

 
$
(0.01
)
 
Diluted EPS
$
0.43

 
$
(0.18
)
 
 
$
0.99

 
$
(0.01
)
 

Effective for the quarter ended September 30, 2018, the weighted number of shares and dilutive potential shares include 334,048 shares of common stock that will be issued to certain selling unitholders of Cogent in 2019 as the revenue target related to the Earnout was achieved during the quarter ended September 30, 2018. See "Note 4 — Fair Value of Financial Instruments" and "Note 7 - Equity".
________________________
(1) Excludes 189,749 and 696,417 outstanding restricted stock units that were antidilutive under the treasury stock method for the three and nine months ended September 30, 2018, respectively, and thus were not included in the above calculation. The incremental shares that could be included in the diluted EPS calculation in future periods will vary based on a variety of factors, including the future share price and the amount of unrecognized compensation cost. The incremental shares included, if any, would be less than the number of outstanding restricted stock units.
(2) Excludes 2,006,110 outstanding restricted stock units that were antidilutive under the treasury stock method for the three and nine months ended September 30, 2017, and thus were not included in the above calculation. The incremental shares that could be included in the diluted EPS calculation in future periods will vary based on a variety of factors, including the future share price and the amount of unrecognized compensation cost. The incremental shares included, if any, would be less than the number of outstanding restricted stock units.