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Net Income (Loss) per Share of Common Stock
 6 Months Ended
Jun. 30, 2019
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 income (loss) per share:
 
 
Three months ended June 30,
 
Six months ended June 30,
(dollars in thousands, except earnings per share)
 
2019
 
2018
 
2019
 
2018
Numerator for earnings per share:
 
 
 
 
 
 
 
 
Net income (loss) that is available to common shareholders
 
$
(43,767
)
 
$
3,988

 
$
(48,309
)
 
$
1,027

 
 
 
 
 
 
 
 
 
Denominator for basic earnings per share:
 
 
 
 
 
 
 
 
Weighted average shares outstanding
 
22,400,246

 
22,170,338

 
22,331,786

 
22,130,503

 
 
 
 
 
 
 
 
 
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
 
22,400,246

 
22,355,888

 
22,331,786

 
22,167,087

 
 
 
 
 
 
 
 
 
Basic income (loss) per share
 
$
(1.95
)
 
$
0.18

 
$
(2.16
)
 
$
0.05

 
 
 
 
 
 
 
 
 
Diluted income (loss) per share
 
$
(1.95
)
 
$
0.18

 
$
(2.16
)
 
$
0.05

 
 
 
 
 
 
 
 
 
Anti-dilutive shares excluded from computation of diluted income (loss) per share
 
1,939,290

 
752,375

 
1,700,192

 
982,386



When applicable, diluted shares outstanding is calculated using the weighted-average number of common shares outstanding plus the dilutive effects of equity-based compensation outstanding during the period using the treasury stock method.