NET (LOSS) INCOME PER SHARE

3 Months Ended

Mar. 31, 2017

NET (LOSS) INCOME PER SHARE

NET (LOSS) INCOME PER SHARE

NOTE 9   NET (LOSS) INCOME PER SHARE

Basic net (loss) income per share is computed by dividing the net (loss) income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed similarly except that the weighted average number of common shares is increased to reflect all dilutive instruments.

Below is a reconciliation of the basic and diluted weighted average number of common shares outstanding and the computations for basic and diluted net income per share for the three months ended March 31, 2017 and 2016:

	Three months ended  March 31,
	2017		2016
	(amounts in thousands, except net income per share)
Net (loss) income	$	(3,018)	$	12,985
Weighted average common shares outstanding:		299,575		298,242
Effect of employee stock-based awards		—		312
Diluted shares outstanding:		299,575		298,554
Net (loss) income per share:
Basic	$	(0.01)	$	0.04
Diluted	$	(0.01)	$	0.04

For the three months ended March 31, 2017, as the Company was in a loss position, all potentially dilutive instruments were anti-dilutive and therefore not included in the calculation of diluted net loss per share. For the three months ended March 31, 2016, options to purchase 4.6 million shares of common stock outstanding, at an average exercise price of $3.26 per share, which were not included in the computation of diluted weighted average shares because the exercise price exceeded the average price of the Company’s common stock during that period.