XML 22 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Net Income (Loss) per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Net Income (Loss) per Share
Net Income (Loss) per Share
Basic net income (loss) per common share is computed by dividing net income (loss) applicable to common shares by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is determined based on the assumption that dilutive restricted stock and restricted stock unit awards have vested and outstanding dilutive stock options have been exercised and the aggregate proceeds were used to reacquire common stock using the average price of such common stock for the period. The total number of shares issued or reserved for future issuance under outstanding stock options at June 30, 2016 and 2015 was 900,623 and 621,443, respectively, and the total number of shares of restricted stock and shares reserved for restricted stock units outstanding at June 30, 2016 and 2015 was 293,709 and 98,054, respectively. The foregoing share numbers have been retroactively adjusted to reflect the one-for-fifteen reverse stock split completed on February 4, 2016. All outstanding stock options for the three and six months ended June 30, 2016 were anti-dilutive.
The following table summarizes the computation of basic and diluted net income (loss) per common share (in thousands, except per share amounts):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Net income (loss) attributable to ION
$
(25,342
)
 
$
56,069

 
$
(60,356
)
 
$
805

Weighted average number of common shares outstanding
11,415

 
10,979

 
11,008

 
10,975

Effect of dilutive stock awards
—

 
1

 
—

 
2

Weighted average number of diluted common shares outstanding
11,415

 
10,980

 
11,008

 
10,977

 
 
 
 
 
 
 
 
Basic net income (loss) per share
$
(2.22
)
 
$
5.11

 
$
(5.48
)
 
$
0.07

Diluted net income (loss) per share
$
(2.22
)
 
$
5.11

 
$
(5.48
)
 
$
0.07