Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2015

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 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:

	Three months ended March 31,
	2015			2014
	(in thousands, except per share data)
Net income (loss)	$	(19,110	)	$	19,160
Net income (loss) per common share:
Basic	$	(0.48	)	$	0.49
Diluted	$	(0.48	)	$	0.48
Basic weighted average shares outstanding	39,639			39,177
Effect of potentially dilutive share-based awards	—			760
Diluted weighted average shares outstanding	39,639			39,937

The dilutive effect of outstanding options to purchase common stock, restricted share awards, and restricted share units is considered in diluted income per common share by application of the treasury stock method. The dilutive impact of our performance share awards and performance share units are included in dilutive EPS in the periods those performance targets have been achieved. For the three months ended March 31, 2015, 0.5 million common equivalent shares were excluded from the computation of diluted net loss per share as their effect would be antidilutive since Veeco incurred a net loss. In addition for the three months ended March 31, 2015 and 2014, respectively, approximately 2.0 million and 1.4 million in potentially dilutive shares were excluded from the diluted income (loss) per common share calculation as their effect would be antidilutive.