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Earnings per share | 6 Months Ended
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Jun. 30, 2014
Earnings Per Share [Abstract] |
Earnings per share | 5. Earnings per share The Company computes earnings (loss) per share by applying the guidance stated in ASC 260, Earnings per Share. The treasury stock method has been used to compute earnings (loss) per share. The Company has issued warrants (“Private Placement Warrants”) that represent the right to purchase shares of the Company’s common stock, stock appreciation rights (“SAR”), restricted stock and contingent consideration, all of which have been evaluated for their potentially dilutive effect under the treasury stock method. Refer to Note 22, “Stockholders’ equity” for a further description of the Private Placement Warrants, Note 11, “2012 Incentive compensation plan” for a further description of the SAR and restricted stock and Note 11, “Fair value of financial instruments”, for a further description of the contingent consideration. Computation of dilutive common shares The Company utilizes the treasury stock method described in ASC 260-10-55 to determine the number of treasury shares assumed to be purchased from the hypothetical proceeds of exercise, with any residual shares representing the incremental common shares to be issued and included in diluted EPS. As of June 30, 2014, the Company’s Private Placement Warrants, SAR, restricted stock and contingent consideration were evaluated for their potentially dilutive effect under the treasury stock method. As of June 30, 2013, the Company’s Private Placement Warrants, SAR and restricted stock were evaluated for their potentially dilutive effect. Due to the loss reported in the unaudited condensed consolidated statements of operations, any potentially issuable shares of Company common stock associated with the Private Placement Warrants, SAR and restricted stock were not included in the dilutive EPS calculation for the three or six months ended June 30, 2013. These potential shares were excluded from the diluted EPS calculation because they would have had an anti-dilutive effect under the treasury stock method. The computations of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2014 and 2013, were as follows:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 4,438 |  |  | $ | (2,100 | ) |  | $ | 6,812 |  |  | $ | (5,027 | )
Change in the value of Private Placement Warrants |  |  | (99 | ) |  |  | — |  |  |  | (332 | ) |  |  | — |
|  |  | 4,339 |  |  |  | (2,100 | ) |  |  | 6,480 |  |  |  | (5,027 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding-basic |  |  | 10,627,913 |  |  |  | 9,243,773 |  |  |  | 10,585,187 |  |  |  | 9,171,942 |
Incremental shares from assumed exercise of Private Placement Warrants, SAR, restricted stock and contingent consideration |  |  | 525,242 |  |  |  | — |  |  |  | 518,688 |  |  |  | — |
Weighted average common shares outstanding-diluted |  |  | 11,153,155 |  |  |  | 9,243,773 |  |  |  | 11,103,875 |  |  |  | 9,171,942 |
Earnings (loss) per share of common stock – basic and diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) per share of common stock – basic |  | $ | 0.42 |  |  | $ | (0.23 | ) |  | $ | 0.64 |  |  | $ | (0.55 | )
Earnings (loss) per share of common stock – diluted |  | $ | 0.39 |  |  | $ | (0.23 | ) |  | $ | 0.58 |  |  | $ | (0.55 | )

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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