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NET EARNINGS (LOSS) PER SHARE | 9 Months Ended
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Sep. 30, 2021
NET EARNINGS (LOSS) PER SHARE |
NET EARNINGS (LOSS) PER SHARE | 5 – NET EARNINGS (LOSS) PER SHARE ​ The computation of basic net earnings (loss) per share is based on the weighted-average number of common shares outstanding during the reporting period. The computation of diluted net earnings (loss) per share assumes the vesting of nonvested stock awards and the exercise of stock options (refer to Note 14 — Stock-Based Compensation), for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost attributable to future services and are not yet recognized using the treasury stock method, to the extent dilutive. There were 213,008 restricted stock units and 442,617 stock options that were dilutive during the three months ended September 30, 2021. There were 209,755 restricted stock units and 291,317 stock options that were dilutive during the nine months ended September 30, 2021. There were 298,716 restricted stock units and 837,338 stock options excluded from the computation of diluted net loss per share during the three and nine months ended September 30, 2020 because they were anti-dilutive (refer to Note 14 — Stock-Based Compensation). ​ The Company’s diluted net earnings (loss) per share will also reflect the assumed conversion of the equity warrants issued when the Company emerged from bankruptcy on July 9, 2014 (the “Effective Date”) and MIP Warrants issued by the Company (refer to Note 14 — Stock-Based Compensation) if the impact is dilutive under the treasury stock method. The equity warrants have a 7-year term that commenced on the day following the Effective Date and are exercisable for one tenth of a share of the Company’s common stock. All MIP Warrants during the three and nine months ended September 30, 2020 were excluded from the computation of diluted net earnings (loss) per share because they were anti-dilutive. The MIP Warrants expired on August 7, 2020. There were 3,936,761 equity warrants excluded from the computation of diluted net earnings (loss) per share during the three and nine months ended September 30, 2021 and 2020 because they were anti-dilutive. These equity warrants expired at 5:00 p.m. on July 9, 2021 without exercise. ​ The components of the denominator for the calculation of basic and diluted net earnings (loss) per share are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ | ​ | 2021 |  | 2020 |  | 2021 |  | 2020 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Common shares outstanding, basic: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average common shares outstanding, basic | ​ | 42,095,211 |  | 41,928,682 | ​ | 42,047,115 |  | 41,898,756 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Common shares outstanding, diluted: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average common shares outstanding, basic | ​ | 42,095,211 |  | 41,928,682 | ​ | 42,047,115 |  | 41,898,756 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dilutive effect of warrants | ​ | — |  | — | ​ | — |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dilutive effect of stock options | ​ | 442,617 | ​ | — | ​ | 291,317 | ​ | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dilutive effect of restricted stock units | ​ | 213,008 |  | — | ​ | 209,755 |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average common shares outstanding, diluted | ​ | 42,750,836 |  | 41,928,682 | ​ | 42,548,187 |  | 41,898,756 | ​
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