Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Income (Loss) Per Common Share

Note 2: Income (Loss) Per Common Share

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
	(Dollars In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss):	$	(33,763	)	$	(3,777	)	$	(26,697	)	$	18,977
Dividends on Series B Preferred		—			—			(240	)		(240	)
Dividends on Series D Preferred		—			—			(60	)		(60	)
Total dividends on preferred stocks		—			—			(300	)		(300	)
Numerator for basic net income (loss) per common share - net income (loss) applicable to common stock		(33,763	)		(3,777	)		(26,997	)		18,677
Dividends on preferred stocks assumed to be converted, if dilutive		—			—			300			300
Numerator for diluted net income (loss) per common share	$	(33,763	)	$	(3,777	)	$	(26,697	)	$	18,977
Denominator:
Denominator for basic net income (loss) per common share - weighted-average shares		22,799,007			22,595,634			22,741,012			22,557,935
Effect of dilutive securities:
Convertible preferred stocks		—			—			—			916,666
Stock options		—			—			—			187,026
Dilutive potential common shares		—			—			—			1,103,692
Denominator for dilutive net income (loss) per common share - adjusted weighted-average shares and assumed conversions		22,799,007			22,595,634			22,741,012			23,661,627
Basic net income (loss) per common share	$	(1.48	)	$	(0.17	)	$	(1.19	)	$	0.83
Diluted net income (loss) per common share	$	(1.48	)	$	(0.17	)	$	(1.19	)	$	0.80

The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Convertible preferred stocks		916,666		916,666		916,666		—
Stock options		905,257		673,415		897,690		335,757
		1,821,923		1,590,081		1,814,356		335,757