Quarterly report pursuant to Section 13 or 15(d)

(Loss) Earnings per Share of Common Stock (Tables)

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(Loss) Earnings per Share of Common Stock (Tables)
6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Basic and Diluted (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).

 

     For the three months ended June 30,      For the six months ended June 30,  
     2015     2014      2015     2014  

Calculation of basic (loss) earnings per share of common stock:

         

Net (loss) earnings (attributable) available to common stockholders

   $ (853   $ 86       $ (1,407   $ (14,554

Denominator for basic weighted average shares of common stock

     20,833,787        16,547,793         20,524,101        16,149,467   
  

 

 

   

 

 

    

 

 

   

 

 

 

Basic (loss) earnings per share of common stock

   $ (0.04   $ 0.01       $ (0.07   $ (0.90
  

 

 

   

 

 

    

 

 

   

 

 

 

Calculation of diluted (loss) earnings per share of common stock:

         

Net (loss) earnings (attributable) available to common stockholders

   $ (853   $ 86       $ (1,407   $ (14,554

Add: Income impact of assumed conversion of senior common stock (1)

     —          110         —          —     
  

 

 

   

 

 

    

 

 

   

 

 

 

Net (loss) earnings (attributable) available to common stockholders plus assumed conversions

   $ (853   $ 196       $ (1,407   $ (14,554

Denominator for basic weighted average shares of common stock

     20,833,787        16,547,793         20,524,101        16,149,467   

Effect of convertible senior common stock (1)

     —          347,180         —          —     
  

 

 

   

 

 

    

 

 

   

 

 

 

Denominator for diluted weighted average shares of common stock

     20,833,787        16,894,973         20,524,101        16,149,467   
  

 

 

   

 

 

    

 

 

   

 

 

 

Diluted (loss) earnings per share of common stock

   $ (0.04   $ 0.01       $ (0.07   $ (0.90
  

 

 

   

 

 

    

 

 

   

 

 

 

 

(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.