Income (Loss) per Share

6 Months Ended

Jun. 30, 2015

Note 13—Income (Loss) per Share

Basic income (loss) per share is computed by dividing net income (loss) by the sum of the weighted-average number of common shares outstanding and the weighted-average number of shares issuable under the common stock warrants, representing 749,148 shares and 790,683 shares as of June 30, 2015 and 2014, respectively. The common stock warrants are included in the calculation of basic income (loss) per share because they are issuable for minimal consideration. Non-vested restricted stock is excluded from the basic weighted-average common stock outstanding computation as these shares are not considered earned until vested. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):



	Three Months Ended June 30, 2015		Three Months Ended June 30, 2014			Six Months Ended June 30, 2015		Six Months Ended June 30, 2014
Net income (loss)	$	11,723	$	(24,677	)	$	12,185	$	(39,245	)
Undistributed income allocated to participating securities ⁽²⁾	108		—			107		—
Net income (loss) attributable to common stockholders	$	11,615	$	(24,677	)	$	12,078	$	(39,245	)

Basic weighted-average common stock shares outstanding	37,339		30,406			37,261		30,388
Add dilutive effects of common stock equivalents ⁽¹⁾	24		—			58		—
Diluted weighted-average common stock shares outstanding	37,363		30,406			37,319		30,388

Basic income (loss) per common share	$	0.31	$	(0.81	)	$	0.32	$	(1.29	)
Diluted income (loss) per common share	$	0.31	$	(0.81	)	$	0.32	$	(1.29	)

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(1)	Entities with a net loss are prohibited from including potential common shares in the computation of diluted per share amounts; therefore, we have utilized the basic shares outstanding to calculate both basic and diluted loss per share for the three and six months ended June 30, 2014.


(2)	Participating securities includes restricted stock that has been issued but is not yet vested.

For the three and six months ended June 30, 2015, our weighted-average potentially dilutive securities excluded from the calculation of diluted shares outstanding consisted of 348 thousand and 331 thousand shares of non-vested restricted stock and 24 thousand and 58 thousand stock options, respectively. For the three and six months ended June 30, 2014, there were 658 thousand potentially dilutive securities excluded from the calculation of diluted shares outstanding.