Basic and Diluted Net Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2014

Basic and Diluted Net Income (Loss) Per Common Share [Abstract]

Basic and diluted net income (loss) per share

Basic and diluted net income (loss) per share were determined as follows:

(in thousands, except share and per share amounts)	Three months ended June 30,					Six months ended June 30,
	2014			2013		2014			2013
Net income (loss)	$	(13,233	)	$	867	$	(14,817	)	$	4,221
Weighted average shares outstanding		26,191,311			25,111,713		26,034,995			24,957,183
Basic net income (loss) per common share	$	(0.51	)	$	0.03	$	(0.57	)	$	0.17
Net income (loss)	$	(13,233	)	$	867	$	(14,817	)	$	4,221
Weighted average shares outstanding		26,191,311			25,111,713		26,034,995			24,957,183
Effect of dilutive options and warrants		-			357,516		-			357,516
Weighted average shares outstanding assuming dilution		26,191,311			25,469,229		26,034,995			25,314,699
Diluted net income (loss) per common share	$	(0.51	)	$	0.03	$	(0.57	)	$	0.17

Antidilutive securities excluded from computation of earnings per share

We did not include the following securities in the table below in the computation of diluted net income (loss) per common share because the securities were anti-dilutive during the periods presented:

	Three months ended June 30,				Six months ended June 30,
	2014		2013		2014		2013
Warrants		28,885,570		35,683,943		28,885,570		35,683,943
Stock options		11,941,700		1,967,284		11,941,700		1,967,284
Preferred stock Series A		57,867,234		58,267,234		57,867,234		58,267,234
Preferred stock Series B		20,000,000		20,000,000		20,000,000		20,000,000
Total		118,694,504		115,918,461		118,694,504		115,918,461