Note 10 - Earnings Per Share

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

10.

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Years ended December 31,
	2016			2017		2018
	(in thousands, except per share data)
Numerator:
Net income (loss)	$	(96,378	)	$	16,006	$	57,821
Denominator for basic earnings per share - weighted-average common shares outstanding		122,132			161,141		165,635
Effect of dilutive securities: Stock options, restricted shares and performance based shares		-			1,703		2,054
Denominator for diluted earnings per share - adjusted weighted-average shares and assumed exercise of options, restricted shares and performance based shares		122,132			162,844		167,689
Net (loss) income per common share - basic	$	(0.79	)	$	0.10	$	0.35
Net (loss) income per common share - diluted	$	(0.79	)	$	0.10	$	0.34

Basic earnings per share, excluding any dilutive effects of stock options and unvested restricted stock, is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted income (loss) per share is computed similar to basic; however diluted income (loss) per share reflects the assumed conversion of all potentially dilutive securities. For the year ended

December 31, 2016,

1,635

 of potential shares relating to stock options and unvested restricted shares were excluded from the calculation of diluted income (loss) per share since their inclusion would have been anti-dilutive due to the loss incurred in the period.  For the year

December 31, 2017

and

2018,

5,018

and

4,007

of potential shares relating to stock options and unvested restricted shares were excluded from the calculation of diluted income (loss) per share since their inclusion would have been anti-dilutive due to the options being underwater, respectively