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Earnings (Loss) Per Common Share
 12 Months Ended
Dec. 31, 2014
Earnings (Loss) Per Common Share

3. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share are calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per common share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted stock, each using the treasury stock method. Due to a net loss applicable to common stockholders for the years ended December 31, 2013 and 2012, respectively, we excluded 1,232,880 and 1,261,913 potentially dilutive securities from the computation as their effect would be anti-dilutive.

 

     Year Ended December 31,  
     2014      2013     2012  

Numerator — basic and diluted

        

Net income (loss)

    $ 58,807       $ (10,594 )    $ (36,986 ) 
  

 

 

     

 

 

    

 

 

  

Denominator

        

Weighted average number of common shares outstanding — basic

      39,726         39,188        40,316   

Effect of dilutive stock options

      375         —          —     

Effect of dilutive restricted shares

      628         —          —     
  

 

 

     

 

 

    

 

 

  

Weighted average number of common shares outstanding — diluted

      40,729         39,188        40,316   
  

 

 

     

 

 

    

 

 

  

Earnings (loss) per common share — basic

    $ 1.48       $ (0.27 )    $ (0.92 ) 
  

 

 

     

 

 

    

 

 

  

Earnings (loss) per common share — diluted

    $ 1.44       $ (0.27 )    $ (0.92 ) 
  

 

 

     

 

 

    

 

 

  

Antidilutive stock options and restricted shares

      2,967         4,363        4,943