Net Income Per Share

3 Months Ended

Mar. 31, 2016

14. Net Income 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 March 31,
(in thousands, except share and per share amounts)	2016		2015
Net income	$	10,323	$	375

Basic weighted average common shares outstanding		30,368,240		18,080,944
Effect of dilutive restricted stock awards		4,451		—
Effect of dilutive stock options		—		323,449

Diluted weighted average common shares outstanding		30,372,691		18,404,393

Basic and diluted income per common share	$	0.34	$	0.02

The weighted average number of common shares for the three months ended March 31, 2016 and 2015, did not include 2,221,940 and 751,964 options and unvested restricted stock, respectively, because of their antidilutive effect.