Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 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. The calculation of basic loss per common share excludes participating shares since the securities’ holders are not obligated to fund these losses.

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 dilutive effect of outstanding options to purchase common stock, non-participating restricted share awards, and non-participating restricted share units is considered in diluted income per common share by application of the treasury stock method.  The dilutive effect of outstanding performance share awards and units are included in income per common share when performance targets have been achieved.

The computations of basic and diluted income (loss) per common share are:

	Three months ended September 30,					Nine months ended September 30,
	2015		2014			2015			2014
	(in thousands, except per share data)
Net income (loss)	$	5,306	$	(13,977	)	$	(22,191	)	$	(10,028	)
Net income (loss) per common share:
Basic	$	0.13	$	(0.35	)	$	(0.56	)	$	(0.26	)
Diluted	$	0.13	$	(0.35	)	$	(0.56	)	$	(0.26	)
Basic weighted average shares outstanding	40,846		39,401			39,729			39,317
Effect of potentially dilutive share-based awards	133		—			—			—
Diluted weighted average shares outstanding	40,979		39,401			39,729			39,317
Nonvested participating shares excluded from basic net loss per share since the securities’ holders are not obligated to fund losses	—		1,185			1,076			1,142
Shares excluded from the diluted calculation since Veeco incurred a net loss as their effect would be antidilutive	—		323			165			348
Potentially dilutive non-participating shares excluded from the diluted calculation as their effect would be antidilutive	2,264		1,344			2,066			1,057