NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Earnings Per Share, Basic and Diluted

Diluted net income (loss) per common share is based on the weighted-average number of common shares outstanding and potentially dilutive common shares outstanding and computed as follows:


	Three Months ended September 30,						Nine Months ended September 30,
	2019		2018		2019		2018
	(In thousands, except share and per share data)
Numerator:
Net income (loss) to common stockholders	$	(2,580)	$	(7,619)	$	(10,552)	$	27,713

Denominator:
Weighted-average common shares, basic	27,623,768		27,247,462		27,609,176		27,488,437
Weighted-average common shares, diluted*	27,623,768		27,247,462		27,609,176		28,417,453
Net income (loss) per common share:
Basic:	$	(0.09)	$	(0.28)	$	(0.38)	$	1.01
Diluted:	$	(0.09)	$	(0.28)	$	(0.38)	$	0.98
* For the three and nine months ended September 30, 2019 the securities would be anti-dilutive and therefore were excluded. For the three months ended September 30, 2018, the securities would be anti-dilutive and therefore were excluded. For the nine months ended September 30, 2018, the diluted earnings per common share included 209,689 unvested RSUs and the weighted average effect of 719,327 stock options that are potentially dilutive to earnings per share, since the exercise price of such securities was less than the average market price during the period.

Summary of Components Excluded from Computation of Diluted Net Loss Per Share

Potentially dilutive common shares from employee equity plans and warrants are determined by applying the treasury stock method assumed exercise of warrants and share options and were excluded from the computation of diluted net income (loss) per share because their inclusion would be anti-dilutive and consist of the following:


	Three Months ended September 30,			Nine Months ended September 30,
	2019	2018	2019	2018
Stock options	2,356,198	2,574,981	2,356,198	733,025
Restricted stock units	511,853	542,476	511,853	17,778
Warrants	2,355,506	2,355,506	2,355,506	2,355,506
Total	5,223,557	5,472,963	5,223,557	3,106,309