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NET INCOME (LOSS) PER COMMON SHARE (Tables)
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Components of Computation of Basic and Diluted Net Income per Common Share Components of the computation of basic and diluted net income (loss) per common share were as follows for the indicated periods (dollars in thousands, except per share amounts):

 

 

 

Quarter Ended

 

 

 

March 31

 

 

 

2019

 

 

2018

 

Basic net income (loss) per common share

 

 

 

 

 

 

 

 

Numerator for basic net income (loss) per common share:

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(7,746

)

 

$

19,420

 

Preferred stock dividends

 

 

(4,842

)

 

 

(4,842

)

Earnings participation of unvested equity awards

 

 

(19

)

 

 

(32

)

 

 

$

(12,607

)

 

$

14,546

 

Denominator for basic net income (loss) per common share:

 

 

 

 

 

 

 

 

Average number of shares of common stock outstanding

 

 

85,549

 

 

 

93,867

 

Average unvested stock awards outstanding

 

 

(655

)

 

 

(442

)

 

 

 

84,894

 

 

 

93,425

 

 

 

$

(0.15

)

 

$

0.16

 

Diluted net income (loss) per common share

 

 

 

 

 

 

 

 

Numerator for diluted net income (loss) per common share

 

$

(12,607

)

 

$

14,546

 

Denominator for diluted net income (loss) per common share:

 

 

 

 

 

 

 

 

Denominator for basic net income (loss) per common share

 

 

84,894

 

 

 

93,425

 

Net effect of dilutive equity awards

 

 

–

 

 

 

81

 

 

 

 

84,894

 

 

 

93,506

 

 

 

$

(0.15

)

 

$

0.16