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Earnings Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share  
Earnings Per Share

(12) Earnings Per Share

 

The following is a reconciliation of the basic and diluted earnings per share computations (dollars in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

    

September 30, 

 

 

 

2016

    

2015

 

Three Months Ended

 

 

 

 

 

 

 

Net (loss) income for basic and diluted earnings per share

    

$
(23,911)

    

$
2,710

 

Shares of common stock and common stock equivalents:

 

 

 

 

 

 

 

Average common shares used in basic computation

 

 
32,725

 

 
33,859

 

Effect of dilutive securities

 

 

 —

 

 
688

 

Average common shares used in diluted computation

 

 
32,725

 

 
34,547

 

(Loss) income per share:

 

 

 

 

 

 

 

Basic

 

$
(0.73)

 

$
0.08

 

Diluted

 

$
(0.73)

 

$
0.08

 

 

 

 

 

 

 

 

 

Nine Months Ended

 

 

 

 

 

 

 

Net (loss) income for basic and diluted earnings per share

    

$
(31,634)

    

$
9,233

 

Shares of common stock and common stock equivalents:

 

 

 

 

 

 

 

Average common shares used in basic computation

 

 
33,006

 

 
34,066

 

Effect of dilutive securities

 

 

 —

 

 
910

 

Average common shares used in diluted computation

 

 
33,006

 

 
34,976

 

(Loss) income per share:

 

 

 

 

 

 

 

Basic

 

$
(0.96)

 

$
0.27

 

Diluted

 

$
(0.96)

 

$
0.26

 

 

 

There were no anti-dilutive equity awards for the three and nine month periods ended September 30, 2016 due to the fact that the Company recorded a loss. For the three and nine month periods ended September 30, 2015, there were 549,000 and 203,000 shares underlying equity awards, respectively, that were outstanding but were anti-dilutive and thus not included in the computation of diluted earnings per share.