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Earnings Per Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

10. Earnings Per Share

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

(Unaudited)

Numerator (both basic and diluted):

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$
(105,642)

 

$
9,931 

 

$
(186,561)

 

$
10,467 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings (loss) per share

 
40,168,406 

 

 
41,477,139 

 

 
40,458,557 

 

 
41,103,660 

Stock options

 

 —

 

 
83,790 

 

 

 —

 

 
109,914 

Unvested restricted stock

 

 —

 

 
651,984 

 

 

 —

 

 
540,780 

Denominator for diluted earnings (loss) per share

 
40,168,406 

 

 
42,212,913 

 

 
40,458,557 

 

 
41,754,354 

Basic earnings (loss) per common share:

$
(2.63)

 

$
0.24 

 

$
(4.61)

 

$
0.25 

Diluted earnings (loss) per common share:

$
(2.63)

 

$
0.24 

 

$
(4.61)

 

$
0.25 

 

Stock options and unvested restricted stock shares of approximately 395,938 and 634,541 were excluded in the computation of diluted earnings (loss) per share for the three and nine months ended September 30, 2015, respectively, as the effect would have been anti-dilutive.