Loss Per Share

For all periods presented, the Company has disclosed basic and diluted (loss) earnings per common share utilizing the two-class method. In accordance with, ASC Topic 260, "Earnings per Share," the presentation of basic and diluted EPS is required only for common stock and not for participating securities.

Non-vested restricted shares of Class A common stock are considered participating securities for purposes of calculating basic weighted average common shares outstanding in all periods. In addition, Company Warrants are accounted for as participating securities, as holders of such Warrants, in accordance with and subject to the terms and conditions of the Warrant Agreement, are entitled to receive ratable distributions of the Company's earnings concurrently with such distributions made to the holders of Class A common stock.

Basic (loss) earnings per common share is calculated by dividing net (loss) income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. In accordance with the terms of the Company's certificate of incorporation, the Company allocates undistributed net (loss) income, after any allocation for preferred stock dividends, between each class of common stock on an equal basis per share. In accordance with the two-class method, earnings applicable to the non-vested restricted shares of Class A common stock and Company Warrants are excluded from the computation of basic EPS.

Diluted (loss) earnings per share is computed in the same manner as basic (loss) earnings per share after assuming issuance of common stock for all potentially dilutive equivalent shares, which includes stock options and certain warrants to purchase common stock. Antidilutive instruments are not considered in this calculation. Under the two-class method, net income is allocated to common stock to the extent that each security may share in earnings, as if all of the (loss) earnings for the period had been distributed. (Loss) earnings are allocated to each class of common stock equally per share. The following table sets forth the computation of basic and diluted (loss) earnings per common share for the three months ended March 31, 2017 and 2016 (amounts in thousands, except per share data):



	Three Months Ended March 31,
	2017			2016
Basic Loss Per Share
Numerator:
Undistributed net loss from continuing operations	$	(7,395	)	$	(14,429	)
Less:
Participation rights of the Company Warrants in undistributed earnings	—			—
Participation rights of unvested restricted stock in undistributed earnings	—			—
Basic undistributed net loss attributable to common shares	$	(7,395	)	$	(14,429	)
Denominator:
Basic weighted average shares outstanding	29,306			29,256
Basic undistributed net loss per share attributable to common shares	$	(0.25	)	$	(0.49	)
Diluted Loss Per Share:
Numerator:
Undistributed net loss from continuing operations	$	(7,395	)	$	(14,429	)
Less:
Participation rights of the Company Warrants in undistributed net earnings	—			—
Participation rights of unvested restricted stock in undistributed earnings	—			—
Basic undistributed net loss attributable to common shares	$	(7,395	)	$	(14,429	)
Denominator:
Basic weighted average shares outstanding	29,306			29,256
Effect of dilutive stock options, warrants and restricted stock	—			—
Diluted weighted average shares outstanding	29,306			29,256
Diluted undistributed net loss per share attributable to common shares	$	(0.25	)	$	(0.49	)