| (Loss) Earnings per Share of Common Stock |
3. (Loss) Earnings per Share of Common Stock
The following tables set forth the computation of basic and diluted
(loss) earnings per share of common stock for each of the three and
six months ended June 30, 2015 and 2014, respectively. We
computed basic (loss) earnings per share for the three and six
months ended June 30, 2015 and 2014, respectively, using the
weighted average number of shares outstanding during the
periods. Diluted (loss) earnings per share for the three and
six months ended June 30, 2015 and 2014, reflects additional
shares of common stock related to our convertible Senior Common
Stock (if the effect would be dilutive), that would have been
outstanding if dilutive potential shares of common stock had been
issued, as well as an adjustment to net income available to common
stockholders as applicable to common stockholders that would result
from their assumed issuance (dollars in thousands, except per share
amounts).
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For the three months ended June 30, |
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For the six months ended June 30, |
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2015 |
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2014 |
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2015 |
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2014 |
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Calculation of basic (loss) earnings per share of common
stock:
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Net (loss) earnings (attributable) available to common
stockholders
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$ |
(853 |
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$ |
86 |
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$ |
(1,407 |
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$ |
(14,554 |
) |
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Denominator for basic weighted average shares of common stock
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20,833,787 |
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16,547,793 |
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20,524,101 |
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16,149,467 |
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Basic (loss) earnings per share of common stock
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$ |
(0.04 |
) |
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$ |
0.01 |
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$ |
(0.07 |
) |
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$ |
(0.90 |
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Calculation of diluted (loss) earnings per share of common
stock:
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Net (loss) earnings (attributable) available to common
stockholders
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$ |
(853 |
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$ |
86 |
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$ |
(1,407 |
) |
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$ |
(14,554 |
) |
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Add: Income impact of assumed conversion of senior common stock
(1)
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— |
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110 |
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— |
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— |
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Net (loss) earnings (attributable) available to common stockholders
plus assumed conversions
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$ |
(853 |
) |
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$ |
196 |
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$ |
(1,407 |
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$ |
(14,554 |
) |
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Denominator for basic weighted average shares of common stock
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20,833,787 |
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16,547,793 |
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20,524,101 |
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16,149,467 |
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Effect of convertible senior common stock (1)
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— |
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347,180 |
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— |
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— |
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Denominator for diluted weighted average shares of common stock
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20,833,787 |
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16,894,973 |
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20,524,101 |
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16,149,467 |
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Diluted (loss) earnings per share of common stock
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$ |
(0.04 |
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$ |
0.01 |
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$ |
(0.07 |
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$ |
(0.90 |
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| (1) |
We excluded convertible senior common
shares of 830,600 and 775,002 from the calculation of diluted
earnings per share for the three and six months ended June 30,
2015, respectively, because it was anti-dilutive. We also excluded
332,608 convertible senior common shares from the calculation of
diluted earnings per share for the six months ended June 30,
2014, because it was anti-dilutive. |
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