NET (LOSS) INCOME PER SHARE

6 Months Ended

Jun. 30, 2015

NET (LOSS) INCOME PER SHARE

NET (LOSS) INCOME PER SHARE

NOTE 3.  NET (LOSS) INCOME PER SHARE

Basic net (loss) income per share is calculated by dividing the net (loss) income by the weighted-average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is calculated by dividing the net (loss) income by the weighted-average number of shares of common stock outstanding during the period, plus potentially dilutive common shares, consisting of unexercised stock options, unvested restricted stock awards, outstanding shares under the employee stock purchase plan and convertible debt. The Company uses the treasury-stock method to compute diluted earnings per share with respect to its stock options and equivalents. The Company uses the if-converted method to compute diluted earnings per share with respect to its convertible debt. For purposes of this calculation, options to purchase stock are considered to be potential common shares and are only included in the calculation of diluted net (loss) income per share when their effect is dilutive. Basic and diluted earnings per common share are calculated as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands, except for per share amounts)	2015			2014		2015			2014
Basic (loss) income per share
Net (loss) income	$	(21,653	)	$	12,746	$	(33,286	)	$	30,684
Denominator	59,992			58,106		59,778			57,827
Basic net (loss) income per share	$	(0.36	)	$	0.22	$	(0.56	)	$	0.53
Diluted net (loss) income per share
Net (loss) income	$	(21,653	)	$	12,746	$	(33,286	)	$	30,684
Denominator:
Denominator for basic net (loss) income per share	59,992			58,106		59,778			57,827
Add effect of dilutive securities:
Stock options and equivalents	—			2,324		—			2,431
Denominator for diluted net (loss) income per share	59,992			60,430		59,778			60,258
Diluted net (loss) income per share	$	(0.36	)	$	0.21	$	(0.56	)	$	0.51

The following table sets forth outstanding potentially dilutive common shares that are not included in the computation of diluted net (loss) income per share because, to do so would be anti-dilutive:

	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands)	2015	2014	2015	2014
Convertible debt	17,931,393	—	17,931,393	—
Stock options and equivalents	1,506,982	1,190	1,166,500	1,609
Total potentially dilutive shares	19,438,375	1,190	19,097,893	1,609