Income (loss) per Common Share (Tables)

12 Months Ended

Dec. 31, 2015

Computation of Basic and Diluted Net Income (Loss) Per Common Share

The following table sets forth the computation of basic and diluted net income (loss) per common share:

	2015			2014			2013
	(Dollars In Thousands, Except Per Share Amounts)
Numerator:
Net (loss) income:	$	(34,765	)	$	19,634		$	54,962
Dividend requirements on Series E Redeemable Preferred		(2,287	)		—			—
Dividends on Series B Preferred		(240	)		(240	)		(240	)
Dividends on Series D Preferred		(60	)		(60	)		(60	)
Accretion of Series E Redeemable Preferred		(686	)		—			—
Total dividends, dividend requirements and accretion on preferred stocks		(3,273	)		(300	)		(300	)

Numerator for basic net income (loss) per common share - net income (loss) attributable to common stockholders		(38,038	)		19,334			54,662
Dividends on convertible preferred stocks assumed to be converted, if dilutive		300			—			300
Numerator for diluted net income (loss) per common share	$	(37,738	)	$	19,334		$	54,962

Denominator:
Denominator for basic net income (loss) per common share - weighted- average shares		22,758,873			22,575,053			22,465,176
Effect of dilutive securities:
Convertible preferred stocks		—			—			916,666
Unvested restricted stock		—			—			—
Warrants		—			—			—
Stock options		—			175,753			215,124
Dilutive potential common shares		—			175,753			1,131,790

Denominator for dilutive net income (loss) per common share - adjusted weighted-average shares and assumed conversions		22,758,873			22,750,806			23,596,966

Basic net income (loss) per common share:
Loss from continuing operations	$	(2.17	)	$	0.21		$	1.57
Income from discontinued operations, including taxes	$	0.50			0.65			0.86
Net income (loss)	$	(1.67	)	$	0.86		$	2.43

Diluted net income (loss) per common share:
Loss from continuing operations	$	(2.17	)	$	0.21		$	1.51
Income from discontinued operations, including taxes	$	0.50			0.64			0.82
Net income (loss)	$	(1.67	)	$	0.85		$	2.33

Antidilutive Securities Excluded from Computation of Earnings Per Share

The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive:

	2015		2014		2013
Convertible preferred stocks		916,666		916,666		—
Stock options		898,582		392,314		246,391
Warrants		314,808		—		—
Series E redeemable preferred stock - embedded derivative		34,998		—		—
Restricted stock		1,448		—		—
		2,166,502		1,308,980		246,391