Net Income (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Calculation of Basic Net (Loss) Income Per Share

The following table presents the calculation of basic net (loss) income per share for periods presented:

(in thousands, except per share data):

	Three Months ended September 30, 2015			Three Months ended September 30, 2014			Nine Months ended September 30, 2015			Nine Months ended September 30, 2014
Numerator for basic and diluted net (loss) income  per share:
Net (loss) income	$	(3,919	)	$	(1,299	)	$	(71,901	)	$	12,643
Preferred deemed dividend		—			—			—			(9,455	)
Series B preferred stock dividends		(4,500	)		—			(13,248	)		—
Net (loss) income attributable to common shareholders	$	(8,419	)	$	(1,299	)	$	(85,149	)	$	3,188
Denominator for basic net (loss) income per share:
Weighted-average shares outstanding		206,168,035			202,343,245			204,307,431			202,163,250
Weighted-average unvested restricted shares outstanding		(4,197,396	)		(1,343,764	)		(2,636,314	)		(1,336,982	)
Denominator for basic net (loss) income  per share:		201,970,639			200,999,481			201,671,117			200,826,268
Basic net (loss) income per share attributable to common shareholders	$	(0.04	)	$	(0.01	)	$	(0.42	)	$	0.02

Calculation of Diluted Net (Loss) Income Per Share

The following table presents the calculation of diluted net (loss) income per share for periods presented:

(in thousands, except per share data):

	Three Months ended September 30, 2015			Three Months ended September 30, 2014			Nine Months ended September 30, 2015			Nine Months ended September 30, 2014
Numerator for basic and diluted net (loss) income per share:
Net (loss) income	$	(3,919	)	$	(1,299	)	$	(71,901	)	$	12,643
Preferred deemed dividend		—			—			—			(9,455	)
Series B preferred stock dividends		(4,500	)		—			(13,248	)		—
Net (loss) income attributable to common shareholders	$	(8,419	)	$	(1,299	)	$	(85,149	)	$	3,188
Denominator for diluted net (loss) income  per share:
Weighted-average shares outstanding		206,168,035			202,343,245			204,307,431			202,163,250
Weighted-average unvested restricted shares outstanding		(4,197,396	)		(1,343,764	)		(2,636,314	)		(1,336,982	)
Effect of dilutive potential shares *		—			—			—			37,045,988
Denominator for diluted net (loss) income per share:		201,970,639			200,999,481			201,671,117			237,872,256
Diluted net (loss) income per share attributable to common shareholders	$	(0.04	)	$	(0.01	)	$	(0.42	)	$	0.01

*There were no dilutive effects from any equity instruments for periods presented which did not have net income, therefore diluted net (loss) income per share was the same as basic net (loss) income for periods presented which reflect a net loss.