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Earnings / (Loss) per share

6 Months Ended

Jun. 30, 2018

10. Earnings / (Loss) per Share:

The computation of basic earnings/(loss) per share is based on the weighted average number of common shares outstanding for the six-months ended June 30, 2018 and 2017. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed. Diluted earnings/(loss) per share gives effect to stock awards, stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. Diluted earnings per share for the six-months ended June 30, 2018 does not include the effect of 104,250 non-vested share options outstanding as of that date, as that effect was anti-dilutive. Diluted net loss per share for the six-months ended June 30, 2017 does not include the effect of the 1,024,000 non-vested shares and of the 104,250 non-vested share options outstanding as that date, as their effect was anti-dilutive.

The Company calculates basic and diluted earnings / loss per share as follows:

		Six months ended June 30,
		2017		2018
Income / (Loss) :
Net income / (loss)	$	(26,229)	$	20,628


Basic earnings / (loss) per share:
Weighted average common shares outstanding, basic		62,188,645		64,170,654
Basic earnings / (loss) per share	$	(0.42)	$	0.32

Effect of dilutive securities:
Dillutive effect of non vested shares		-		298,206
Weighted average common shares outstanding, diluted		62,188,645		64,468,860

Diluted earnings / (loss) per share	$	(0.42)	$	0.32