Income (Loss) Per Common Share

6 Months Ended

Jun. 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. 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.

For the three and six months ended June 30, 2015, and for the three months ended June 30, 2014, 1.1 million shares of nonvested, participating, restricted share awards and units were excluded from the computation of basic net loss per share since the securities’ holders are not obligated to fund these losses. 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 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 June 30,						Six months ended June 30,
	2015			2014			2015			2014
	(in thousands, except per share data)
Net income (loss)	$	(8,386	)	$	(15,211	)	$	(27,496	)	$	3,949
Net income (loss) per common share:
Basic	$	(0.21	)	$	(0.39	)	$	(0.69	)	$	0.10
Diluted	$	(0.21	)	$	(0.39	)	$	(0.69	)	$	0.10
Basic weighted average shares outstanding	39,693			39,379			39,666			39,275
Effect of potentially dilutive share-based awards	—			—			—			786
Diluted weighted average shares outstanding	39,693			39,379			39,666			40,061
Shares excluded from diluted calculation since Veeco incurred a net loss as their effect would be antidilutive	169			321			174			—
Potentially dilutive non-participating shares excluded from diluted calculation as their effect would be antidilutive	1,976			1,045			1,964			921