(4) Earnings Per Share

The Company computes earnings per share in accordance with FASB ASC 260-10. Basic earnings per share (“Basic EPS”) has been computed using the weighted average number of common shares outstanding during each period. Diluted earnings per share ("Diluted EPS") assumes, as of the beginning of the period, exercise of stock options and restricted stock grants using the treasury stock method. Diluted EPS also assumes conversion of performance-based restricted stock units to common shares based on the number of shares (if any) that would be issuable, according to predetermined performance and market goals, if the end of the reporting period was the end of the performance period. As we recognized a net loss for the three and nine months ended September 30, 2015, the unvested share-based payments and stock options were not recognized in diluted earnings per share (“Diluted EPS”) calculations as they would be antidilutive. Certain of our stock options and restricted stock grants that would potentially dilute Basic EPS in the future were also antidilutive for the three and nine months ended September 30, 2014, and are discussed below.

The following is a reconciliation of the numerators and denominators used in the calculation of Basic and Diluted EPS for the three and nine months ended September 30, 2015 and 2014 (in thousands, except per share amounts):



	Three Months Ended September 30, 2015							Three Months Ended September 30, 2014
	Net Loss			Shares	Per Share Amount			Net Income		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	(354,588	)	44,546	$	(7.96	)	$	2,474	43,850	$	0.06
Dilutive Securities:
Restricted Stock Awards				—						564
Restricted Stock Units				—						59
Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	(354,588	)	44,546	$	(7.96	)	$	2,474	44,473	$	0.06



	Nine Months Ended September 30, 2015							Nine Months Ended September 30, 2014
	Net Loss			Shares	Per Share Amount			Net Income		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	(1,124,532	)	44,431	$	(25.31	)	$	14,743	43,768	$	0.34
Dilutive Securities:
Restricted Stock Awards				—						469
Restricted Stock Units				—						62
Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	(1,124,532	)	44,431	$	(25.31	)	$	14,743	44,299	$	0.33

Approximately 1.3 million and 1.4 million stock options to purchase shares were not included in the computation of Diluted EPS for the three months ended September 30, 2015 and 2014 because they were antidilutive. We also had approximately 1.3 million and 1.4 million stock options to purchase shares were not included in the computation of Diluted EPS for the nine months ended September 30, 2015 and 2014, because these stock options were antidilutive.

Approximately 1.0 million and 0.2 million restricted stock awards for the three months ended September 30, 2015 and 2014, respectively, and approximately 0.8 million and 0.3 million restricted stock awards for the nine months ended September 30, 2015 and 2014, respectively, were not included in the computation of Diluted EPS because they were antidilutive.

Approximately 1.2 million and 0.7 million shares for the three months ended September 30, 2015 and 2014, respectively, and approximately 1.2 million and 0.7 million shares for the nine months ended September 30, 2015 and 2014, respectively, related to performance-based restricted stock units that could be converted to common shares based on predetermined performance and market goals were not included in the computation of Diluted EPS because the performance and market conditions had not been met, assuming the end of the reporting period was the end of the performance period.