EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2017

4.	EARNINGS (LOSS) PER SHARE

Basic and diluted earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. Restricted shares of common stock (participating securities) outstanding and a reconciliation of weighted average shares outstanding is as follows:

	Three months ended March 31,
(In thousands)	2017			2016
Net income (loss) available for stockholders:	$	3,634		$	(32,511	)
Less: Adjustments for earnings attributable to participating securities		(51	)		-
Net income (loss) used in calculating losses per share	$	3,583		$	(32,511	)

Weighted average shares outstanding (including participating securities)		217,713			217,433
Adjustment for participating securities		(3,042	)		(3,322	)
Shares used in calculating basic and diluted earnings (loss) per share		214,671			214,111