Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2020

Income (Loss) Per Common Share

Income (Loss) Per Share

Note 2 — Income (Loss) Per Common Share

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Diluted income per share is calculated by dividing net income by the weighted average number of shares used to calculate basic income (loss) per share plus the weighted average number of common share equivalents outstanding during the period. The dilutive effect of outstanding options to purchase common stock and share-based awards is considered in diluted income per share by application of the treasury stock method. The dilutive effect of performance share units is included in diluted income per common share if the performance targets have been achieved, or would have been achieved if the reporting date was the end of the contingency period. The computations of basic and diluted income (loss) per share for the three months ended March 31, 2020 and 2019 are as follows:

	Three months ended March 31,
	2020		2019
	(in thousands, except per share amounts)
Net income (loss)	$	(567)	$	(18,530)
Net income (loss) per common share:
Basic	$	(0.01)	$	(0.40)
Diluted	$	(0.01)	$	(0.40)
Basic weighted average shares outstanding		47,811		46,848
Effect of potentially dilutive share-based awards		—		—
Diluted weighted average shares outstanding		47,811		46,848
Common share equivalents excluded from the diluted weighted average shares outstanding since the Company incurred a net loss and their effect would be antidilutive		627		320
Potentially dilutive shares excluded from the diluted calculation as their effect would be antidilutive		1,485		2,426
Maximum potential shares to be issued for settlement of the Convertible Senior Notes excluded from the diluted calculation as their effect would be antidilutive		8,618		8,618