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Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

10. Earnings Per Share

The following table sets forth the computation of unaudited basic and diluted earnings per share (in thousands, except share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

(Unaudited)

Numerator (both basic and diluted):

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$
9,931 

 

$
(6,956)

 

$
10,467 

 

$
(28,530)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share

 
41,477,139 

 

 
40,400,082 

 

 
41,103,660 

 

 
40,494,628 

Stock options

 
83,790 

 

 

 —

 

 
109,914 

 

 

 —

Unvested restricted stock

 
651,984 

 

 

 —

 

 
540,780 

 

 

 —

Denominator for diluted earnings per share

 
42,212,913 

 

 
40,400,082 

 

 
41,754,354 

 

 
40,494,628 

Basic earnings per common share:

$
0.24 

 

$
(0.17)

 

$
0.25 

 

$
(0.70)

Diluted earnings per common share:

$
0.24 

 

$
(0.17)

 

$
0.25 

 

$
(0.70)

 

Stock options and unvested restricted stock shares of approximately 868,786 and 911,083 were excluded in the computation of diluted earnings per share for the three and nine months ended September 30, 2013, respectively as the effect would have been anti-dilutive.