Net Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2014

Computation of Basic Net Income (Loss) Per Share

The following table sets forth the computation of basic net income (loss) per share:


	(in thousands, except per share data)
	Three months ended June 30, 2014			Three months ended June 30, 2013			Six months ended June 30, 2014			Six months ended June 30, 2013
Numerator for basic net income (loss) per share:
Net income (loss)	$	17,322		$	(2,484	)	$	13,942		$	(6,300	)
Preferred deemed dividend		—			—			(9,455	)		—
Less: Net income (loss) attributed to participating securities		100			(10	)		30			(29	)

Net income (loss) attributable to common shareholders, net of income (loss) attributable to participating securities	$	17,222		$	(2,474	)	$	4,457		$	(6,271	)

Denominator for basic net income (loss) per share:
Weighted-average shares outstanding		202,164,035			201,156,078			202,071,761			201,156,078
Weighted-average unvested restricted shares outstanding		(1,164,554	)		(770,714	)		(1,333,534	)		(934,653	)

Denominator for basic net income (loss) per share:		200,999,481			200,385,364			200,738,227			200,221,425

Basic net income (loss) per share attributable to common shareholders	$	0.09		$	(0.01	)	$	0.02		$	(0.03	)

Schedule of Computation of Dilutive Effect, Calculated to Indicate Impact of Net Income and Anti-Dilutive Common Stock Equivalents

The following are the computations of the dilutive effect, calculated to indicate the impact if we had net income, and the anti-dilutive common stock equivalents excluded from the computations for the periods presented.


	(in thousands, except per share data)
	Three months ended June 30, 2014		Three months ended June 30, 2013			Six months ended June 30, 2014			Six months ended June 30, 2013
Numerator for diluted net income (loss) per share:
Net income (loss)	$	17,322	$	(2,484	)	$	13,942		$	(6,300	)
Preferred deemed dividend		—		—			(9,455	)		—
Less: Net income (loss) attributed to participating securities		100		(10	)		30			(29	)

Net income (loss) attributable to common shareholders, net of income (loss) attributable to participating securities	$	17,222	$	(2,474	)	$	4,457		$	(6,271	)

Denominator for diluted net income (loss) per share:
Weighted-average shares outstanding - basic		200,999,481		200,385,364			200,738,227			200,221,425
Effect of dilutive potential shares		42,587,735		N/A	^*		35,224,877			N/A	^*

Denominator for diluted net income (loss) per share:		243,587,216		200,385,364			235,963,104			200,221,425

Diluted net income (loss) per share attributable to common shareholders	$	0.07	$	(0.01	)	$	0.02		$	(0.03	)

^*	There were no dilutive effects from any equity instruments for periods presented which did not have net income, therefore diluted net income (loss) per share was the same as basic net income (loss) for periods presented which reflect a net loss.