Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2020

NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of the Company’s common stock outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.

For the three and six months ended June 30, 2020, there were 1,816,332 and 3,205,676 common stock equivalents, respectively, related to equity-based awards were not included in the diluted earnings per share calculation as the shares would be antidilutive. Similarly, 3,241,533 common stock equivalents were excluded in the diluted earnings per share calculation for the three and six months ended June 30, 2019, respectively.


	Three months ended June 30,						Six months ended June 30,
In thousands except per share amounts	2020		2019		2020		2019
Net income (loss) available to common stockholders:
Income (loss) from continuing operations	$	(1,209)	$	(36,764)	$	(13,109)	$	(61,658)
Income (loss) from discontinued operations	—		—		—		5,693
	$	(1,209)	$	(36,764)	$	(13,109)	$	(55,965)

Weighted average shares:
Basic	240,945		207,809		240,600		205,103
Effect of stock-based compensation plans	—		—		—		—
Diluted	240,945		207,809		240,600		205,103

Basic income (loss) per share:
Income (loss) from continuing operations	$	(0.01)	$	(0.18)	$	(0.05)	$	(0.30)
Income (loss) from discontinued operations	—		—		—		0.03
Basic⁽¹⁾	$	(0.01)	$	(0.18)	$	(0.05)	$	(0.27)

Diluted income (loss) per share:
Income (loss) from continuing operations	$	(0.01)	$	(0.18)	$	(0.05)	$	(0.30)
Income (loss) from discontinued operations	—		—		—		0.03
Diluted⁽¹⁾	$	(0.01)	$	(0.18)	$	(0.05)	$	(0.27)

⁽¹⁾ Due to rounding, the sum of net income per share from continuing operations and discontinued operations may not equal net income per share.

On April 23, 2020 the Company entered into an ATM Equity Offering Sales Agreement (the “Sales Agreement”) with BofA Securities, Inc. and RBC Capital Markets, LLC as sales agents (the “Sales Agents”) and filed a prospectus supplement for the sale of its common stock, par value $0.01 per share, by way of an “at the market” offering having an aggregate offering price of up to $100,000,000 (the “ATM Program”). Sales under the ATM Program, if any, will be made pursuant to the terms of the Sales Agreement. At June 30, 2020, the Company had not sold any of its common stock under the ATM Program.