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Earnings and Dividends per Share | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Earnings and Dividends per Share |
9. | Earnings and Dividends per Share
The computational components of basic and diluted earnings per share for the three-month and nine-month periods ended September 30, 2016 and 2015 are below.
|  | For the three-month period ended September 30, 2016 |
|  | Numerator (Income) |  |  | Denominator (Shares) |  |  | Per Share Amount |
Basic net income and income per share |  | $ | 5,804 |  |  |  | 33,984 |  |  | $ | 0.17 |
Effect of dilutive securities and notes: |  |  |  |  |  |  |  |  |  |  |  |
Common stock equivalents arising from stock options, restricted stock awards, and employee stock purchase plan |  |  | — |  |  |  | 371 |  |  |  | — |
Diluted earnings and earnings per share |  | $ | 5,804 |  |  |  | 34,355 |  |  | $ | 0.17 |
|  | For the three-month period ended September 30, 2015 |
|  | Numerator (Income) |  |  | Denominator (Shares) |  |  | Per Share Amount |
Basic net loss and loss per share |  | $ | (4,825 | ) |  |  | 28,618 |  |  | $ | (0.17 | )
Effect of dilutive securities and notes: |  |  |  |  |  |  |  |  |  |  |  |
Common stock equivalents arising from stock options, restricted stock awards, and employee stock purchase plan |  |  | — |  |  |  | — |  |  |  | — |
Diluted loss and loss per share |  | $ | (4,825 | ) |  |  | 28,618 |  |  | $ | (0.17 | )
|  | For the nine-month period ended September 30, 2016 |
|  | Numerator (Income) |  |  | Denominator (Shares) |  |  | Per Share Amount |
Basic net income and earnings per share |  | $ | 12,954 |  |  |  | 33,953 |  |  | $ | 0.38 |
Effect of dilutive securities and notes: |  |  |  |  |  |  |  |  |  |  |  |
Common stock equivalents arising from stock options, restricted stock awards, and employee stock purchase plan |  |  | — |  |  |  | 258 |  |  |  | — |
Diluted earnings and earnings per share |  | $ | 12,954 |  |  |  | 34,211 |  |  | $ | 0.38 |
|  | For the nine-month period ended September 30, 2015 |
|  | Numerator (Income) |  |  | Denominator (Shares) |  |  | Per Share Amount |
Basic net loss and loss per share |  | $ | (2,523 | ) |  |  | 27,066 |  |  | $ | (0.09 | )
Effect of dilutive securities and notes: |  |  |  |  |  |  |  |  |  |  |  |
Common stock equivalents arising from stock options, restricted stock awards, and employee stock purchase plan |  |  | — |  |  |  | — |  |  |  | — |
Diluted loss and loss per share |  | $ | (2,523 | ) |  |  | 27,066 |  |  | $ | (0.09 | )
Options, restricted stock units and warrants included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended September 30, 2016 and 2015, 1.1 million and 1.3 million, respectively, and 1.4 million and 1.3 million during the nine-month periods ended September 30, 2016 and 2015, respectively, of outstanding options and warrants were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect. Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share. On August 8, 2016, the Company declared and, on September 30, 2016, paid to common stockholders a quarterly dividend of $0.066 per share. The dividend policy and the payment of cash dividends under that policy are subject to the Board of Directors’ continuing determination that the dividend policy and the declaration of dividends are in the best interest of the Company’s stockholders. Future dividends and the dividend policy may be changed or cancelled at the Company’s discretion at any time. Payment of dividends is also subject to the continuing compliance with our financial covenants under our Credit Facility.

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