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Earnings Per Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Per Share
Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock plus common stock equivalents. Common stock equivalents consist of employee and director stock options, restricted stock awards, other share-based payment awards, and contingently issuable shares related to the Company’s Convertible Senior Notes ("Convertible Notes"), which are included in the calculation of weighted average shares outstanding using the treasury stock method, if dilutive. Refer to Note 8 for further description of the Convertible Notes.
The following table is a reconciliation of the basic and diluted loss per share calculations for the three and nine months ended September 30, 2015 and 2014, respectively:
 
 
Three months ended
 
Nine months ended
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
Net loss
$
(26,300
)
 
$
(7,325
)
 
$
(105,926
)
 
$
(95,621
)
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
23,580

 
23,359

 
23,535

 
23,345

Effect of dilutive securities:
 
 
 
 
 
 
 
Outstanding common stock equivalents
—

 
—

 
—

 
—

Denominator for diluted loss per share
23,580

 
23,359

 
23,535

 
23,345

Basic loss per share
$
(1.12
)
 
$
(0.31
)
 
$
(4.50
)
 
$
(4.10
)
Diluted loss per share
$
(1.12
)
 
$
(0.31
)
 
$
(4.50
)
 
$
(4.10
)
Excluded outstanding share-based awards having an anti-dilutive effect
1,049

 
481

 
1,049

 
481

Excluded "in the money" portion of Convertible Notes having an anti-dilutive effect
—

 
—

 
—

 
903


The Convertible Notes are dilutive to the extent the Company generates net income and the average stock price during the period is greater than $10.28, which is the conversion price of the Convertible Notes. The Convertible Notes are only dilutive for the “in the money” portion of the Convertible Notes that could be settled with the Company’s stock. In future periods, absent a fundamental change (as defined in the Convertible Notes agreement), the outstanding Convertible Notes could increase diluted average shares outstanding by a maximum of approximately 5,600 shares.