Earnings Per Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share

Earnings Per Share

12. Earnings Per Share

Basic earnings (net loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (net loss) per share is computed by dividing net income (loss) by the weighted average number of common shares and common equivalent shares outstanding during the period. The weighted average number of common equivalent shares outstanding has been determined in accordance with the treasury stock method. Common equivalent shares consist of common stock issuable on the exercise of outstanding options and vesting of restricted stock units when dilutive.

The following table sets forth the computation of basic and diluted earnings (net loss) per share:

	Year Ended December 31,
	2015		2014			2013
Net income (loss)	$	(36,627)	$	15,583	$	99
Weighted average shares outstanding, basic		48,891,327		43,313,200		43,313,200
Weighted average common equivalent shares		—		—		—
Weighted average shares outstanding, diluted		48,891,327		43,313,200		43,313,200
Net earnings (loss) per share, basic and diluted	$	(0.75)	$	0.36	$	0.00
Equity instruments excluded from diluted net earnings (loss) per share calculation as the effect would have been anti-dilutive:
Stock options		36,304		—		—
Restricted stock		183,974		—		—