Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

The calculations of net income (loss) per share were as follows:

	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
	(Unaudited - In thousands, except per share data)
Basic:
Net income (loss)	$	(11,628	)	$	(14,006	)	$	(45,253	)	$	9,965
Weighted average common shares outstanding	20,919			20,678			20,892			21,042
Net income (loss) per share	$	(0.56	)	$	(0.68	)	$	(2.17	)	$	0.47
Diluted:
Net income (loss) for dilutive share computation	$	(11,628	)	$	(14,006	)	$	(45,253	)	$	9,965
Number of shares used in basic per share computation	20,919			20,678			20,892			21,042
Unvested restricted stock and DSUs	—			—			—			354
Employee stock options	—			—			—			22
Weighted average common shares outstanding	20,919			20,678			20,892			21,418
Net income (loss) per share	$	(0.56	)	$	(0.68	)	$	(2.17	)	$	0.47

Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs).

If a consolidated or equity method partner company has dilutive stock options, unvested restricted stock, DSUs or warrants, diluted net income (loss) per share is computed by first deducting the income attributable to the potential exercise of the dilutive securities of the partner company from net income (loss). Any impact is shown as an adjustment to net income (loss) for purposes of calculating diluted net income (loss) per share.

Diluted earnings per share for the three months ended September 30, 2015 and 2014 do not reflect the following potential shares of common stock that would have an anti-dilutive effect or have unsatisfied performance or market conditions:

• At September 30, 2015 and 2014, options to purchase 1.1 million and 1.7 million shares of common stock at prices ranging from $7.14 to $19.95 and $3.93 to $18.80, respectively, were excluded from the calculations.

• At September 30, 2015 and 2014, unvested restricted stock, performance-based stock units and DSUs convertible into 0.4 million and 0.3 million shares of stock, respectively, were excluded from the calculations.

• At September 30, 2015 and 2014, 3.0 million shares of common stock, representing the effect of the assumed conversion of the 2018 Debentures, were excluded from the calculation.

Diluted earnings per share for the nine months ended September 30, 2015 and 2014 do not reflect the following potential shares of common stock that would have an anti-dilutive effect or have unsatisfied performance or market conditions:

• At September 30, 2015 and 2014, options to purchase 1.1 million and 0.8 million shares of common stock at prices ranging from $7.14 to $19.95 and $7.41 to $18.78, respectively, were excluded from the calculations.

• At September 30, 2015 and 2014, unvested restricted stock, performance-based stock units and DSUs convertible into 0.4 million and 0.3 million shares of stock, respectively, were excluded from the calculations.

• At September 30, 2015 and 2014, 3.0 million shares of common stock, representing the effect of the assumed conversion of the 2018 Debentures, were excluded from the calculation.