(Loss) Earnings Per Share

9 Months Ended

Sep. 30, 2016

Basic (loss) earnings per common share is calculated by dividing net (loss) income by the weighted average number of common shares outstanding for the period. Diluted (loss) earnings per common share is calculated by dividing net (loss) income 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 loss per share for the three months ended September 30, 2016 and the three and nine months ended September 30, 2016 and 2015, since including them would have an anti-dilutive effect on 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 loss per share calculations were 0.7 million stock options and 0.8 million restricted stock units for the three and nine months ended September 30, 2016 and 0.8 million stock options and 0.4 million restricted stock units for the nine months ended September 30, 2015.

Basic and diluted (loss) earnings per common share are as follows (in thousands, except per share data):



	Three months ended September 30,					Nine months ended September 30,
	2016			2015		2016			2015
Net (loss) income - Basic and Diluted	$	(2,746	)	$	1,975	$	(35,211	)	$	(12,087	)

Weighted average common shares outstanding - Basic	56,899			54,578		55,523			54,430
Assumed conversions:
Incremental common shares from stock options	—			345		—			—
Incremental common shares from restricted stock units	—			24		—			—
Weighted average common shares outstanding - Diluted	56,899			54,947		55,523			54,430

Basic (loss) earnings per common share	$	(0.05	)	$	0.04	$	(0.63	)	$	(0.22	)
Diluted (loss) earnings per common share	$	(0.05	)	$	0.04	$	(0.63	)	$	(0.22	)