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Income (Loss) Per Common Share
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Income (Loss) Per Common Share

Note 3: Income (Loss) Per Common Share

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(Dollars In Thousands, Except Per Share Amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(7,033

)

 

$

15,091

 

 

$

(13,019

)

 

$

150

 

Adjustments for basic net income (loss) per common

   share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividend requirements on Series E Redeemable

   Preferred

 

 

(5,789

)

 

 

(7,629

)

 

 

(11,325

)

 

 

(14,979

)

Dividend requirements on Series B Preferred

 

 

(60

)

 

 

(60

)

 

 

(120

)

 

 

(120

)

Dividend requirements on Series D Preferred

 

 

(15

)

 

 

(15

)

 

 

(30

)

 

 

(30

)

Accretion of Series E Redeemable Preferred

 

 

(1,618

)

 

 

(2,241

)

 

 

(3,217

)

 

 

(4,484

)

Net income attributable to participating securities

 

 

 

 

 

(91

)

 

 

 

 

 

 

Numerator for basic and dilutive net income (loss) per

   common share - net income (loss) attributable to

   common stockholders

 

$

(14,515

)

 

$

5,055

 

 

$

(27,711

)

 

$

(19,463

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic and dilutive net income (loss)

   per common share - adjusted weighted-average

   shares (1)

 

 

27,249,304

 

 

 

25,240,224

 

 

 

27,248,682

 

 

 

23,822,768

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(0.53

)

 

$

(0.70

)

 

$

(1.02

)

 

$

(1.81

)

Income from discontinued operations, net of taxes

 

 

 

 

 

0.90

 

 

 

 

 

 

0.99

 

Net income (loss)

 

$

(0.53

)

 

$

0.20

 

 

$

(1.02

)

 

$

(0.82

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(0.53

)

 

$

(0.70

)

 

$

(1.02

)

 

$

(1.81

)

Income from discontinued operations, net of taxes

 

 

 

 

 

0.90

 

 

 

 

 

 

0.99

 

Net income (loss)

 

$

(0.53

)

 

$

0.20

 

 

$

(1.02

)

 

$

(0.82

)

 

(1)

Excludes the weighted-average shares of unvested restricted stock that are contingently returnable.

Note 3: Income (Loss) Per Common Share (continued)

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:

 

  

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Restricted stock and stock units

 

 

1,195,560

 

 

 

989,484

 

 

 

1,156,493

 

 

 

911,563

 

Convertible preferred stocks

 

 

916,666

 

 

 

916,666

 

 

 

916,666

 

 

 

916,666

 

Series E Redeemable Preferred - embedded derivative

 

 

303,646

 

 

 

456,225

 

 

 

303,646

 

 

 

456,225

 

Stock options

 

 

217,608

 

 

 

517,273

 

 

 

218,309

 

 

 

538,220

 

 

 

 

2,633,480

 

 

 

2,879,648

 

 

 

2,595,114

 

 

 

2,822,674