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EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2014
EARNINGS PER SHARE  
Schedule of computation of basic and diluted earnings (loss) per share

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30

 

June 30

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

(in thousands, except share and per share data)

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

17,208

 

$

4,878

 

$

12,015

 

$

(8,517

)

Effect of unvested restricted stock unit awards

 

(848

)

(215

)

(602

)

(74

)

Adjusted net income (loss)

 

$

16,360

 

$

4,663

 

$

11,413

 

$

(8,591

)

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

26,005,105

 

25,694,327

 

25,941,370

 

25,666,484

 

Earnings (loss) per common share

 

$

0.63

 

$

0.18

 

$

0.44

 

$

(0.33

)

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

17,208

 

$

4,878

 

$

12,015

 

$

(8,517

)

Effect of unvested restricted stock unit awards

 

(848

)

(215

)

(602

)

(74

)

Adjusted net income (loss)

 

$

16,360

 

$

4,663

 

$

11,413

 

$

(8,591

)

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

26,005,105

 

25,694,327

 

25,941,370

 

25,666,484

 

Effect of dilutive securities

 

—

 

—

 

676

 

—

 

Adjusted weighted-average shares and assumed conversions

 

26,005,105

 

25,694,327

 

25,942,046

 

25,666,484

 

Earnings (loss) per common share

 

$

0.63

 

$

0.18

 

$

0.44

 

$

(0.33

)