Income (loss) per Common Share (Tables)

12 Months Ended

Dec. 31, 2016

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:

	2016			2015			2014
	(Dollars In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss):	$	112,168		$	(34,765	)	$	19,634
Adjustments for basic net income (loss) per Common share:
Dividend requirements on Series E Redeemable Preferred		(27,761	)		(2,287	)		—
Dividends and dividend requirements on Series B Preferred		(240	)		(240	)		(240	)
Dividends and dividend requirements on Series D Preferred		(60	)		(60	)		(60	)
Accretion of Series E Redeemable Preferred		(18,256	)		(686	)		—
Net income attributable to participating securities		(1,091	)		—			—
Numerator for basic net income (loss) per common share - net income (loss) attributable to common stockholders		64,760			(38,038	)		19,334
Dividends on convertible preferred stocks assumed to be converted, if dilutive		—			300			—
Numerator for diluted net income (loss) per common share	$	64,760		$	(37,738	)	$	19,334

Denominator:
Denominator for basic net income (loss) per common share - weighted- average shares (1)		25,454,311			22,758,873			22,575,053
Effect of dilutive securities:
Stock options		—			—			175,753
Dilutive potential common shares		—			—			175,753

Denominator for dilutive net income (loss) per common share - adjusted weighted-average shares and assumed conversions		25,454,311			22,758,873			22,750,806

Basic net income (loss) per common share:
Income (loss) from continuing operations	$	(5.28	)	$	(2.17	)	$	0.21
Income from discontinued operations, net of taxes		7.82			0.50			0.65
Net income (loss)	$	2.54		$	(1.67	)	$	0.86

Diluted net income (loss) per common share:
Income (loss) from continuing operations	$	(5.28	)	$	(2.17	)	$	0.21
Income from discontinued operations, net of taxes		7.82			0.50			0.64
Net income (loss)	$	2.54		$	(1.67	)	$	0.85

(1)	2016 excludes the weighted-average shares of unvested restricted stock that are contingently returnable.

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:

	2016		2015		2014
Convertible preferred stocks		916,666		916,666		916,666
Restricted stock and stock units		908,568		1,448		—
Series E redeemable preferred stock - embedded derivative		412,869		34,998		—
Stock options		361,168		898,582		392,314
Warrants		—		314,808		—
		2,599,271		2,166,502		1,308,980