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Earnings Per Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings (Loss) Per Share
Diluted earnings (loss) per common share is computed by dividing income (loss) by the weighted average number of shares of common stock outstanding plus outstanding 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 7.0% Convertible Senior Notes due December 15, 2017 (the "Convertible Notes"), which are included in the calculation of weighted average shares outstanding using the treasury stock method, if dilutive. Refer to Note 7 - Debt for further description of the Convertible Notes.
The following table is a reconciliation of the basic and diluted earnings (loss) per common share calculations:
 
 
Three Months Ended
 
March 31,
 
2016
 
2015
Numerator:
 
 
 
Loss from continuing operations
$
(44,804
)
 
$
(15,662
)
Income from discontinued operations, net of income taxes
7,934

 
535

Net loss
$
(36,870
)
 
$
(15,127
)
Denominator:
 
 
 
Weighted average common shares outstanding
23,625

 
23,459

Effect of dilutive securities:
 
 
 
Outstanding common stock equivalents
—

 
—

Denominator for diluted earnings (loss) per common share
23,625

 
23,459

 
 
 
 
Basic earnings (loss) per common share:
 
 
 
Continuing operations
$
(1.90
)
 
$
(0.67
)
Discontinued operations
0.34

 
0.02

Net basic loss per common share
$
(1.56
)
 
$
(0.65
)
 
 
 
 
Diluted earnings (loss) per common share:
 
 
 
Continuing operations
$
(1.90
)
 
$
(0.67
)
Discontinued operations
0.34

 
0.02

Net diluted loss per common share
$
(1.56
)
 
$
(0.65
)
Excluded outstanding share-based awards having an anti-dilutive effect
954

 
356

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

 
—


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 common stock. In future periods, absent a fundamental change (as defined in the Convertible Notes indenture), the outstanding Convertible Notes could increase diluted average shares outstanding by a maximum of approximately 5,600 shares.