Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2015

Basic earnings (loss) per share (“EPS”) is based on the weighted average number of common shares outstanding during each period. Diluted EPS is based on the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents outstanding during each period. Stock option conversions and RSUs were not included in the computation of diluted loss per share for the nine months ended September 30, 2015 or each of three and nine months ended September 30, 2014, as we incurred a loss from continuing operations for these periods and any effect on loss per share would have been anti-dilutive. The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS:



	Three Months Ended September 30					Nine Months Ended September 30
	2015		2014			2015			2014
	(In thousands, except share data)
Basic earnings (loss) per share computation:
Numerator:
Income (loss) from continuing operations	$	20,233	$	(15,136	)	$	(26,899	)	$	(25,891	)
Denominator:
Average common shares	93,254,547		93,797,183			93,950,693			93,916,848
Basic earnings (loss) per share from continuing operations	$	0.22	$	(0.16	)	$	(0.29	)	$	(0.28	)
Diluted earnings (loss) per share computation:
Numerator:
Net income (loss)	$	20,233	$	(15,136	)	$	(26,899	)	$	(25,891	)
Denominator:
Average common shares — basic	93,254,547		93,797,183			93,950,693			93,916,848
Stock option conversion(1)	202,974		—			—			—
RSUs(2)	358,657		—			—			—
Average common shares — diluted	93,816,178		93,797,183			93,950,693			93,916,848
Diluted earnings (loss) per share from continuing operations	$	0.22	$	(0.16	)	$	(0.29	)	$	(0.28	)
(1) Anti-dilutive common shares excluded	2,624,204		3,421,121			2,979,348			3,638,658
(2) Anti-dilutive stock units excluded	755		267,771			302,022			306,176