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Net Income (Loss) per Share of Common Stock
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Net Income (Loss) per Share of Common Stock
Net Income (Loss) per Share of Common Stock

The following table sets forth the computation of basic and diluted loss per share:
 
 
Three months ended June 30,
 
Six months ended June 30,
(dollars in thousands, except earnings per share)
 
2018
 
2017
 
2018
 
2017
Numerator for earnings per share:
 
 
 
 
 
 
 
 
Net income (loss) that is available to common shareholders
 
$
3,988

 
$
(832
)
 
$
1,027

 
$
(7,402
)
 
 
 
 
 
 
 
 
 
Denominator for basic earnings per share:
 
 
 
 
 
 
 
 
Weighted average shares outstanding
 
22,170,338

 
22,029,519

 
22,130,503

 
21,984,365

 
 
 
 
 
 
 
 
 
Denominator for diluted earnings per share:
 
 
 
 
 
 
 
 
Effect of stock options and restricted stock units
 
185,550

 
—

 
36,584

 
—

Adjusted weighted average shares and assumed conversions
 
22,355,888

 
22,029,519

 
22,167,087

 
21,984,365

 
 
 
 
 
 
 
 
 
Basic earnings (loss) per share
 
$
0.18

 
$
(0.04
)
 
$
0.05

 
$
(0.34
)
 
 
 
 
 
 
 
 
 
Diluted earnings (loss) per share
 
$
0.18

 
$
(0.04
)
 
$
0.05

 
$
(0.34
)
 
 
 
 
 
 
 
 
 
Shares excluded from diluted earnings (loss) per share due to:
 
 
 
 
 
 
 
Net loss position (excluded from denominator)
 
—

 
60,141

 
—

 
111,791

Inclusion would have been anti-dilutive (excluded from calculation)
 
752,375

 
924,652

 
982,386

 
744,317



When applicable, diluted shares outstanding include the dilutive impact of restricted stock units. Diluted shares also include the impact of eligible employee stock options, which are calculated based on the average share price for each fiscal period using the treasury stock method.