XML 22 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
 
Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is calculated by dividing net income by the weighted average shares outstanding plus share equivalents that would arise from the exercise of stock options, vesting of restricted common shares, and contingently issuable shares in connection with the Company’s acquisitions. During the three months ended June 30, 2016 and 2015, an aggregate of 4.2 million and 3.1 million options and restricted common shares, respectively, and during the six months ended June 30, 2016 and 2015, an aggregate of 4.2 million and 3.3 million options and restricted common shares, respectively, were excluded from the calculation as these options and restricted common shares were anti-dilutive. The computations of basic and diluted earnings per common share for three and six months ended June 30, 2016 and 2015 are as follows (in thousands, except per share amounts): 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
 
 
(as revised)
 
 
 
(as revised)
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
(2,324
)
 
$
3,655

 
$
(5,017
)
 
$
3,930

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted-average shares outstanding – basic
53,411

 
52,588

 
53,278

 
52,651

Effect of dilutive securities:
 
 
 
 
 
 
 
Employee and director stock options and restricted common shares
—

 
632

 
—

 
768

Contingently issuable shares
—

 
992

 
—

 
496

Weighted-average shares outstanding – diluted
53,411

 
54,212

 
53,278

 
53,915

 


 


 
 
 
 
Basic earnings (loss) per share
$
(0.04
)
 
$
0.07

 
$
(0.09
)
 
$
0.07

Diluted earnings (loss) per share
$
(0.04
)
 
$
0.07

 
$
(0.09
)
 
$
0.07