Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2018

The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings (loss) per share:


	Net Income (Loss)		Weighted Average Shares	Earnings (Loss) Per Share

	(In thousands, except per share amounts)
Three Months Ended September 30, 2018
Basic earnings per share	$	11,715	35,308	$	0.33
Effect of dilutive securities
Restricted stock awards	—		22
Performance share units(1)	—		—
Warrants(2)	—		—
Diluted earnings per share	$	11,715	35,330	$	0.33
Three Months Ended September 30, 2017
Basic loss per share	$	(8,485)	34,290	$	(0.25)
Effect of dilutive securities
Restricted stock awards(3)	—		—
Performance share units(3)	—		—
Warrants(2)	—		—
Diluted loss per share	$	(8,485)	34,290	$	(0.25)
Nine Months Ended September 30, 2018
Basic loss per share	$	(63,253)	34,971	$	(1.81)
Effect of dilutive securities
Restricted stock awards(4)	—		—
Performance share units(1)	—		—
Warrants(2)	—		—
Diluted loss per share	$	(63,253)	34,971	$	(1.81)
Nine Months Ended September 30, 2017
Basic earnings per share	$	65,822	31,750	$	2.07
Effect of dilutive securities
Restricted stock awards	—		234
Performance share units(1)	—		—
Warrants(2)	—		—
Diluted earnings per share	$	65,822	31,984	$	2.06

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1. No incremental shares of potentially dilutive performance share units were included for the three-month period ended September 30, 2018, or the nine-month periods ended September 30, 2018, or 2017, as their effect was antidilutive under the treasury stock method.

2. No incremental shares of potentially dilutive warrants were included for the three and nine-month periods ended September 30, 2018, or 2017, as their effect was antidilutive.

3. Restricted stock awards covering 0.1 million shares and performance share units covering an insignificant amount of shares for the three-month period ended September 30, 2017, were excluded from the computation of loss per share because their effect would have been antidilutive.

4. No incremental shares of potentially dilutive restricted stock awards were included for the nine-month period ended September 30, 2018, as their effect was antidilutive under the treasury stock method.

See Note 15 for discussion of the Company’s share-based compensation awards.