(Loss) Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

(Loss) Earnings Per Share

11. (Loss) Earnings Per Share

ASC Topic 260, “Earnings Per Share”, provides that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method.  The Company’s outstanding non-vested restricted stock awards are participating securities.  Accordingly, earnings per common share are computed using the two-class method.   

The following table sets forth the computation of basic and diluted (loss) earnings per share under the two-class method:

	2016			2015			2014
Numerator for basic and diluted (loss) earnings per share:
Net (loss) income	$	(80,127	)	$	(109,544	)	$	55,588
Effect of reallocating undistributed earnings of    participating securities		—			—			(376	)
Net (loss) income available under the two-class    method	$	(80,127	)	$	(109,544	)	$	55,212
Denominator:
Denominator for basic (loss) earnings per    share—weighted-average shares		24,377,839			22,999,318			22,946,395
Effect of dilutive potential common shares		—			—			—
Denominator for diluted (loss) earnings per    share—adjusted weighted-average shares		24,377,839			22,999,318			22,946,395
Basic (loss) earnings per share	$	(3.29	)	$	(4.76	)	$	2.41
Diluted (loss) earnings per share	$	(3.29	)	$	(4.76	)	$	2.41