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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings (Loss) Per Share
Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding combined with dilutive common share equivalents outstanding, if the effect is dilutive.
Potentially dilutive securities were excluded from the calculation of diluted earnings (loss) per share for the nine months ended September 30, 2015, since including them would have an anti-dilutive effect on earnings (loss) per share due to the net loss incurred during the period. Securities convertible into shares of common stock that were not considered in the diluted earnings (loss) per share calculation were 0.8 million stock options and 0.4 million restricted stock units for the nine months ended September 30, 2015.
Basic and diluted earnings (loss) per common share are as follows (in thousands, except per share data):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2015
 
2014
 
2015
 
2014
Net income (loss) - Basic and Diluted
$
1,975

 
$
14,272

 
$
(12,087
)
 
$
37,330

 
 
 
 
 
 
 
 
Weighted average common shares outstanding - Basic
54,578

 
54,789

 
54,430

 
54,464

Assumed conversions:
 
 
 
 
 
 
 
Incremental common shares from warrants
—

 
—

 
—

 
162

Incremental common shares from stock options
345

 
867

 
—

 
901

Incremental common shares from restricted stock units
24

 
34

 
—

 
9

Weighted average common shares outstanding - Diluted
54,947

 
55,690

 
54,430

 
55,536

 
 
 
 
 
 
 
 
Basic earnings (loss) per common share
$
0.04

 
$
0.26

 
$
(0.22
)
 
$
0.69

Diluted earnings (loss) per common share
$
0.04

 
$
0.26

 
$
(0.22
)
 
$
0.67