Summary of Reconciliation of Earnings (Loss) Per Common Share |
The following table reconciles earnings (loss) per common share for the three and nine months ended September 30, 2018 and 2017:
|
|
Three |
|
|
Three |
|
|
Nine |
|
|
Nine |
|
|
|
Months |
|
|
Months |
|
|
Months |
|
|
Months |
|
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
Basic Earnings (Loss) per Common Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(8,342 |
) |
|
$ |
(4,240 |
) |
|
$ |
(24,492 |
) |
|
$ |
(17,401 |
) |
Distributed earnings to common shares |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Distributed earnings to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total distributed earnings |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Undistributed loss allocable to common shares |
|
|
(8,342 |
) |
|
|
(4,240 |
) |
|
|
(24,492 |
) |
|
|
(17,401 |
) |
Undistributed earnings allocable to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total undistributed loss |
|
|
(8,342 |
) |
|
|
(4,240 |
) |
|
|
(24,492 |
) |
|
|
(17,401 |
) |
Loss to common shares — basic |
|
$ |
(8,342 |
) |
|
$ |
(4,240 |
) |
|
$ |
(24,492 |
) |
|
$ |
(17,401 |
) |
Denominator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding — basic |
|
|
11,394 |
|
|
|
10,797 |
|
|
|
11,333 |
|
|
|
10,410 |
|
Basic earnings (loss) per common share |
|
$ |
(0.73 |
) |
|
$ |
(0.39 |
) |
|
$ |
(2.16 |
) |
|
$ |
(1.67 |
) |
|
|
Three |
|
|
Three |
|
|
Nine |
|
|
Nine |
|
|
|
Months |
|
|
Months |
|
|
Months |
|
|
Months |
|
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
Diluted Earnings (Loss) per Common Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss to common shares — basic |
|
$ |
(8,342 |
) |
|
$ |
(4,240 |
) |
|
$ |
(24,492 |
) |
|
$ |
(17,401 |
) |
Undistributed earnings allocated to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Undistributed earnings reallocated to participating securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Loss to common shares — diluted |
|
$ |
(8,342 |
) |
|
$ |
(4,240 |
) |
|
$ |
(24,492 |
) |
|
$ |
(17,401 |
) |
Denominator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding — basic |
|
|
11,394 |
|
|
|
10,797 |
|
|
|
11,333 |
|
|
|
10,410 |
|
Dilutive effect of stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Weighted average common shares outstanding — diluted |
|
|
11,394 |
|
|
|
10,797 |
|
|
|
11,333 |
|
|
|
10,410 |
|
Diluted earnings (loss) per common share |
|
$ |
(0.73 |
) |
|
$ |
(0.39 |
) |
|
$ |
(2.16 |
) |
|
$ |
(1.67 |
) |
|