Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2016

NOTE 13 – INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to common stockholders by the weighted average shares outstanding during the period, without consideration for common stock equivalents.

Diluted net income (loss) per common share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury stock method. Potential common stock is included in the diluted income (loss) per common share calculation when dilutive. Basic and diluted income (loss) per common share was as follows (in thousands, except share and per share data):


	Years ended December 31,
	2016		2015		2014
Net income (loss) attributable to common stockholders—basic and diluted	$	38,436	$	26,517	$	(5,965	)

Weighted average number of common shares outstanding		31,301,887		31,298,163		30,106,862
Dilutive effect of outstanding restricted stock awards after application of the
Treasury Stock Method		61,403		36,406		—

Diluted shares outstanding		31,363,290		31,334,569		30,106,862
Basic and diluted income (loss) per share attributable to common stockholders	$	1.23	$	0.85	$	(0.20	)

There were no common stock equivalents with a dilutive effect during the year ended December 31, 2014. Loss attributable to common stockholders includes the accretion of Redeemable Preferred Stock in 2014.