Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2015

13. Net Income (Loss) Per Share

Basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period, plus the potential dilutive effect of other securities if those securities were converted or exercised. During periods in which the Company incurs net losses, both basic and diluted loss per share is calculated by dividing the net loss by the weighted average shares outstanding and potentially dilutive securities are excluded from the calculation because their effect would be antidilutive.


	Three Months Ended September 30,					Nine Months Ended September 30,
(in thousands, except share and per share amounts)	2015		2014			2015			2014
Net income (loss)	$	5,386	$	(867	)	$	(18,662	)	$	(3,788	)

Basic weighted average common shares outstanding		30,359,516		18,080,968			22,443,257			18,080,496
Effect of dilutive restricted stock awards		289,911		—			—			—
Effect of dilutive stock options		112,344		—			—			—

Diluted weighted average common shares outstanding		30,761,771		18,080,968			22,443,257			18,080,496

Basic and diluted income (loss) per common share	$	0.18	$	(0.05	)	$	(0.83	)	$	(0.21	)

The weighted average number of common shares for the three and nine months ended September 30, 2015, did not include 653,322 and 2,414,132 options and unvested restricted stock, respectively, because of their antidilutive effect. The weighted average number of common shares for the three and nine months ended September 30, 2014, did not include 1,373,508 options because of their antidilutive effect.