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Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share

Note 11—Earnings (Loss) Per Share

Earnings (Loss) Per Share

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted EPS takes into account the dilutive effect of potential common stock that could be issued by the Company in conjunction with any stock awards that have been granted to directors and employees. In accordance with FASB ASC Topic 260, awards of non-vested shares shall be considered to be outstanding as of the grant date for purposes of computing diluted EPS even though their exercise is contingent upon vesting. During periods in which the Company incurs a net loss, diluted weighted-average shares outstanding are equal to basic weighted-average shares outstanding because the effect of all equity awards is antidilutive.  The following is a calculation of the basic and diluted weighted-average number of shares of common stock and EPS for the three and six months ended June 30, 2018 and 2017:

 

 

 

Three Months Ended June 30,

 

(in thousands, except per share data)

 

2018

 

 

2017

 

 

 

Income (Loss)

 

 

Shares

 

 

Per Share

 

 

Income (Loss)

 

 

Shares

 

 

Per Share

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss), shares, basic

 

$

(19,036

)

 

 

301,936

 

 

$

(0.06

)

 

$

11,494

 

 

 

262,423

 

 

$

0.04

 

Weighted-average number of shares of common

   stock-diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock and performance unit awards

 

 

—

 

 

 

—

 

 

 

 

 

 

 

—

 

 

 

1,997

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss), shares, diluted

 

$

(19,036

)

 

 

301,936

 

 

$

(0.06

)

 

$

11,494

 

 

 

264,420

 

 

$

0.04

 

 

 

 

Six Months Ended June 30,

 

(in thousands, except per share data)

 

2018

 

 

2017

 

 

 

Income (Loss)

 

 

Shares

 

 

Per Share

 

 

Income (Loss)

 

 

Shares

 

 

Per Share

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss), shares, basic

 

$

(21,660

)

 

 

297,717

 

 

$

(0.07

)

 

$

38,341

 

 

 

261,768

 

 

$

0.15

 

Weighted-average number of shares of common

   stock-diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock and performance unit awards

 

 

—

 

 

 

—

 

 

 

 

 

 

 

—

 

 

 

2,553

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss), shares, diluted

 

$

(21,660

)

 

 

297,717

 

 

$

(0.07

)

 

$

38,341

 

 

 

264,321

 

 

$

0.15