Stockholders' Equity

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock — Our authorized capital stock consists of 60,000,000 shares of common stock with a par value of $0.01 per share; of which, 29,873,953 shares were issued and outstanding as of March 31, 2017 and 29,871,354 were outstanding as of December 31, 2016.

Preferred Stock — Our authorized capital stock also consists of 5,000,000 shares of preferred stock with a par value of $0.01 per share; no preferred shares were outstanding as of March 31, 2017 and December 31, 2016.

Earnings Per Share — Basic earnings per share is determined by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share, and all other diluted per share amounts presented, is determined by dividing net income by the weighted average number of common shares and potential common shares outstanding during the period as determined by the Treasury Stock Method. Potential common shares are included in the diluted earnings per share calculation when dilutive. Diluted earnings per share for the three months ended March 31, 2017 and 2016 includes the effects of potential common shares issuable upon the vesting of restricted stock, when dilutive.

	Three Months Ended March 31,
	2017		2016
Net income	$	628	$	2,563
Weighted average number of common shares outstanding	29,872		29,449
Dilutive effect of restricted stock grants after application of the treasury stock method	322		60
Dilutive shares outstanding	30,194		29,509
Basic and diluted earnings per share	$	0.02	$	0.09

There are no antidilutive outstanding restrictive stock awards impacting the diluted earnings per shares for the three months ended March 31, 2017. For the three months ended March 31, 2016, diluted earnings per share did not include 388 thousand antidilutive outstanding restricted stock awards.

Dividends — We have not declared or paid any cash dividends in the past. The terms of the Second ARLS Agreement (as described below in Note 11) along with our Third ARLS Agreement and Term Loan Facility (as disclosed in Note 18) restrict the payment or distribution of our cash or other assets, including cash dividend payments.