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Net Earnings (Loss) Per Common Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Net Earnings (Loss) Per Common Share
Net Loss Per Common Share

The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated.
(In thousands except per share data)
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Basic
 
 
 
 
 
 
 
Average common shares outstanding
32,867

 
32,465

 
32,725

 
32,484

 
 
 
 
 
 
 
 
Net loss
$
(18,591
)
 
$
(5,020
)
 
$
(58,879
)
 
$
(25,216
)
 
 
 
 
 
 
 
 
Net loss per common share
$
(0.57
)
 
$
(0.15
)
 
$
(1.80
)
 
$
(0.78
)
 
 
 
 
 
 
 
 
Diluted
 
 
 
 
 
 
 
Average common shares outstanding
32,867

 
32,465

 
32,725

 
32,484

Stock options and awards
505

 
145

 
361

 
105

Average common shares assuming dilution
33,372

 
32,610

 
33,086

 
32,589

 
 
 
 
 
 
 
 
Net loss
$
(18,591
)
 
$
(5,020
)
 
$
(58,879
)
 
$
(25,216
)
 
 
 
 
 
 
 
 
Net loss per common share *
$
(0.57
)
 
$
(0.15
)
 
$
(1.80
)
 
$
(0.78
)

________
* Net loss per common share assuming dilution calculated utilizing weighted average shares outstanding-basic for the periods in which there was a net loss.

At September 30, 2017, 988,926 and 1,301,286 shares associated with stock options were excluded from the average common shares assuming dilution for the three and nine months ended September 30, 2017, respectively, as they were anti-dilutive. At September 30, 2017, the majority of the anti-dilutive shares were granted at an exercise price of $25.79, which was higher than the average fair market value prices of $14.27 and $13.14 for the three and nine months ended September 30, 2017, respectively.

At September 30, 2016, 2,462,288 and 2,502,427 shares associated with stock options were excluded from the average common shares assuming dilution for the three and nine months ended September 30, 2016, respectively, as they were anti-dilutive. At September 30, 2016, the majority of the anti-dilutive shares were granted at an exercise price of $25.24, which was higher than the average fair market value prices of $12.03 and $12.64 for the three and nine months ended September 30, 2016, respectively.









For both the three months ended September 30, 2017 and September 30, 2016, respectively, no shares were included in the common shares assuming dilution related to the company's issued warrants as the average market price of the company stock for these periods did not exceed the strike price of the warrants.