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NET INCOME (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER COMMON SHARE
16.
NET INCOME (LOSS) PER COMMON SHARE:
Basic net income (loss) per common share is computed by dividing net income (loss) 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 income (loss) per common share reflects the potential dilution from the exercise or conversion of securities into common stock, the effect of 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 income (loss) and the shares used in calculating basic and diluted net income (loss)per common share for the three and nine months ended September 30, 2015 and 2014 (in thousands, except share and per share data):
 
 
Three Months Ended September 30,
 
Nine Months ended September 30,
 
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
 
Net income (loss)
 
$
7,047

 
$
4,284

 
$
(3,410
)
 
$
28,728

Denominator:
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – Basic
 
46,542,556

 
46,197,713

 
46,241,578

 
46,398,644

Effect of dilutive shares:
 
 
 
 
 
 
 
 
Common stock equivalents arising from stock options and ESPP
 
90,398

 
286,977

 
—

 
359,144

Restricted stock awards and units and performance units
 
90,419

 
149,073

 
—

 
198,640

Weighted average common shares outstanding – Diluted
 
46,723,373

 
46,633,763

 
46,241,578

 
46,956,428

Net income (loss) per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.15

 
$
0.09

 
$
(0.07
)
 
$
0.62

Diluted
 
$
0.15

 
$
0.09

 
$
(0.07
)
 
$
0.61


For the three months ended September 30, 2015 and 2014, the combined effects of unvested restricted stock units, performance unit awards and stock options of 1,000 and 48,347, respectively, were excluded from the calculation of diluted EPS as their impact would have been antidilutive. For the nine months ended September 30, 2015 and 2014, the combined effects of unvested restricted stock units, performance units and stock options of 356,045 and 334,572, 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.