Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2014

Income (Loss) Per Common Share

Income (Loss) Per Common Share

Note 2 — Income (Loss) Per Common Share

Basic income (loss) per common share is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted income per common share is calculated by dividing net income available to common stockholders by using the weighted average number of common shares and common share equivalents outstanding during the period. The computations of basic and diluted income (loss) per common share are as follows:

	Year ended December 31,
	2014			2013			2012
	(in thousands, except per share amounts)
Net income (loss)	$	(66,940	)	$	(42,263	)	$	30,928
Net income (loss) per common share:
Basic	$	(1.70	)	$	(1.09	)	$	0.80
Diluted	$	(1.70	)	$	(1.09	)	$	0.79
Basic weighted average shares outstanding	39,350			38,807			38,477
Effect of potentially dilutive share-based awards	—			—			574
Diluted weighted average shares outstanding	39,350			38,807			39,051

For the year ended December 31, 2014 and 2013, 0.7 million and 0.6 million common equivalent shares, respectively, were excluded from the computation of diluted net loss per share as their effect would be anti-dilutive since the Company incurred a net loss. The dilutive effect of outstanding options and restricted stock units is reflected in diluted income per common share by application of the treasury stock method. For the years ended December 31, 2014, 2013, and 2012, respectively, approximately 1.6 million, 1.3 million and 1.3 million potentially dilutive securities underlying restricted stock awards, restricted stock units, and options to purchase common stock were excluded from the calculation since they would have had an antidilutive effect on diluted income per common share.