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NET (LOSS) INCOME PER COMMON SHARE | 6 Months Ended
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Jun. 30, 2015
Earnings Per Share [Abstract] |
NET (LOSS) INCOME PER COMMON SHARE |
16. | NET (LOSS) INCOME PER COMMON SHARE:
Basic net (loss) income per common share is computed by dividing net (loss) income by the weighted-average number of shares of common stock outstanding for the period excluding unvested restricted stock awards, restricted stock units and performance units. Diluted net (loss) income per common share reflects the potential dilution from the exercise or conversion of securities into common stock, the effect of unvested restricted stock awards, restricted stock units and performance units, and the impact of shares to be issued under the ESPP. The following table is a reconciliation of net (loss) income and the shares used in calculating basic and diluted net (loss) income per common share for the three and six months ended June 30, 2015 and 2014 (in thousands, except share and per share data):
|  | Three Months Ended June 30, |  | Six Months ended June 30,
|  | 2015 |  | 2014 |  | 2015 |  | 2014
Numerator: |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (11,771 | ) |  | $ | 20,422 |  |  | $ | (10,457 | ) |  | $ | 24,443 |
Denominator: |  |  |  |  |  |  |  |
Weighted average common shares outstanding – Basic |  | 46,388,218 |  |  | 46,266,142 |  |  | 45,840,599 |  |  | 46,222,146 |
Effect of dilutive shares: |  |  |  |  |  |  |  |
Common stock equivalents arising from stock options and ESPP |  | — |  |  | 249,618 |  |  | — |  |  | 262,434 |
Restricted stock awards and units and performance units |  | — |  |  | 98,966 |  |  | — |  |  | 148,402 |
Weighted average common shares outstanding – Diluted |  | 46,388,218 |  |  | 46,614,726 |  |  | 45,840,599 |  |  | 46,632,982 |
Net (loss) income per common share: |  |  |  |  |  |  |  |
Basic |  | $ | (0.25 | ) |  | $ | 0.44 |  |  | $ | (0.23 | ) |  | $ | 0.53 |
Diluted |  | $ | (0.25 | ) |  | $ | 0.44 |  |  | $ | (0.23 | ) |  | $ | 0.52 |
For the three months ended June 30, 2015 and 2014, the combined effects of unvested restricted stock awards, restricted stock units, performance unit awards and stock options of 947,442 and 232,245, respectively, were excluded from the calculation of diluted EPS as their impact would have been antidilutive. For the six months ended June 30, 2015 and 2014, the combined effects of unvested restricted stock awards, restricted stock units, performance units and stock options of 947,442 and 286,225, respectively, and the impact of shares to be issued under the ESPP, which was minor, were excluded from the calculation of diluted EPS as their impact would have been antidilutive.

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