Summary of Reconciliation of Earnings (Loss) Per Common Share |
The following table reconciles earnings (loss) per common share for the three and six months ended June 30, 2018 and 2017:
|
|
Three |
|
|
Three |
|
|
Six |
|
|
Six |
|
|
|
Months |
|
|
Months |
|
|
Months |
|
|
Months |
|
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
Basic Earnings (Loss) per Common Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(8,038 |
) |
|
$ |
(6,943 |
) |
|
$ |
(16,150 |
) |
|
$ |
(13,161 |
) |
Distributed earnings to common shares |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Distributed earnings to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total distributed earnings |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Undistributed loss allocable to common shares |
|
|
(8,038 |
) |
|
|
(6,943 |
) |
|
|
(16,150 |
) |
|
|
(13,161 |
) |
Undistributed earnings allocable to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total undistributed loss |
|
|
(8,038 |
) |
|
|
(6,943 |
) |
|
|
(16,150 |
) |
|
|
(13,161 |
) |
Loss to common shares — basic |
|
$ |
(8,038 |
) |
|
$ |
(6,943 |
) |
|
$ |
(16,150 |
) |
|
$ |
(13,161 |
) |
Denominator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding — basic |
|
|
11,337 |
|
|
|
10,266 |
|
|
|
11,302 |
|
|
|
10,214 |
|
Basic earnings (loss) per common share |
|
$ |
(0.71 |
) |
|
$ |
(0.68 |
) |
|
$ |
(1.43 |
) |
|
$ |
(1.29 |
) |
|
|
Three |
|
|
Three |
|
|
Six |
|
|
Six |
|
|
|
Months |
|
|
Months |
|
|
Months |
|
|
Months |
|
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
Diluted Earnings (Loss) per Common Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss to common shares — basic |
|
$ |
(8,038 |
) |
|
$ |
(6,943 |
) |
|
$ |
(16,150 |
) |
|
$ |
(13,161 |
) |
Undistributed earnings allocated to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Undistributed earnings reallocated to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Loss to common shares — diluted |
|
$ |
(8,038 |
) |
|
$ |
(6,943 |
) |
|
$ |
(16,150 |
) |
|
$ |
(13,161 |
) |
Denominator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding — basic |
|
|
11,337 |
|
|
|
10,266 |
|
|
|
11,302 |
|
|
|
10,214 |
|
Dilutive effect of stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Weighted average common shares outstanding — diluted |
|
|
11,337 |
|
|
|
10,266 |
|
|
|
11,302 |
|
|
|
10,214 |
|
Diluted earnings (loss) per common share |
|
$ |
(0.71 |
) |
|
$ |
(0.68 |
) |
|
$ |
(1.43 |
) |
|
$ |
(1.29 |
) |
|