Earnings Per Share

9 Months Ended

Sep. 30, 2016

Earnings per share

Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed similarly to basic earnings per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. For the nine months ended September 30, 2016 and 2015, the dilutive effect of 576 thousand and 462 thousand stock options and restricted stock units, respectively, were excluded from the diluted weighted-average common shares outstanding as the Company incurred a loss during these periods. For the three and nine months ended September 30, 2016, 1,594 thousand and 1,603 thousand stock options and restricted stock units were excluded from the calculation of diluted earnings per share based on the application of the treasury stock method, as such stock options and restricted stock units were determined to be anti-dilutive. Similarly, for the three months ended September 30, 2015, 1,170 thousand stock options and restricted stock units were excluded from the calculation of diluted earnings per share based on the application of the treasury stock method.

The computations for basic and diluted earnings (loss) per share are as follows:

	Three Months Ended				Nine Months Ended
(shares in thousands)	September 30,				September 30,
	2016		2015		2016			2015

Net income (loss)	$	4,560	$	312	$	(1,194	)	$	(5,354	)

Weighted-average common shares outstanding — basic		60,811		60,496		60,676			60,411
Effect of stock options and restricted stock units		715		345		—			—

Weighted-average common shares outstanding — diluted		61,526		60,841		60,676			60,411

Earnings (loss) per share — basic	$	0.08	$	—	$	(0.02	)	$	(0.09	)
Earnings (loss) per share — diluted	$	0.08	$	—	$	(0.02	)	$	(0.09	)