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Earnings Per Share | 9 Months Ended
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Sep. 30, 2015
Earnings Per Share | 13. Earnings Per Share Earnings per share have been computed using the weighted average number of ordinary shares and ordinary share equivalents outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share:
(Dollars in thousands, |  | Quarters Ended September 30, |  |  | Nine Months Ended September 30, |
except share and per share data) |  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Net income (loss) |  | $ | (3,746 | ) |  | $ | 9,761 |  |  | $ | 14,165 |  |  | $ | 51,792 |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding – basic |  |  | 25,463,994 |  |  |  | 25,137,531 |  |  |  | 25,452,991 |  |  |  | 25,126,684 |
Net income (loss) per share |  | $ | (0.15 | ) |  | $ | 0.39 |  |  | $ | 0.56 |  |  | $ | 2.06 |
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding – diluted |  |  | 25,704,931 |  |  |  | 25,334,716 |  |  |  | 25,684,931 |  |  |  | 25,323,187 |
Net income (loss) per share |  | $ | (0.15 | ) |  | $ | 0.39 |  |  | $ | 0.55 |  |  | $ | 2.05 |
A reconciliation of weighted average shares for basic earnings per share to weighted average shares for diluted earnings per share is as follows:
|  | Quarters Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Weighted average shares for basic earnings per share |  |  | 25,463,994 |  |  |  | 25,137,531 |  |  |  | 25,452,991 |  |  |  | 25,126,684 |
Non-vested restricted stock |  |  | 138,261 |  |  |  | 89,114 |  |  |  | 128,942 |  |  |  | 88,710 |
Options |  |  | 102,676 |  |  |  | 108,071 |  |  |  | 102,998 |  |  |  | 107,793 |
Weighted average shares for diluted earnings per share |  |  | 25,704,931 |  |  |  | 25,334,716 |  |  |  | 25,684,931 |  |  |  | 25,323,187 |
The weighted average shares outstanding used to determine dilutive earnings per share for the quarters ended September 30, 2015 and 2014 do not include 512,500 and 12,500 options, respectively, which were deemed to be anti-dilutive. The weighted average shares outstanding used to determine dilutive earnings per share for the nine months ended September 30, 2015 and 2014 do not include 512,500 and 12,500 options, respectively, which were deemed to be anti-dilutive. The following table summarizes options which are deemed to be anti-dilutive at September 30, 2015:
Grant Date |  | Expiration Date |  | Outstanding Options |  |  | Strike Price |
February 9, 2014 |  | February 10, 2024 |  |  | 300,000 |  |  |  | 32.38 |
January 1, 2015 |  | January 1, 2025 |  |  | 200,000 |  |  |  | 28.37 |
November 2, 2005 (1) |  | November 3, 2015 |  |  | 12,500 |  |  |  | 37.70 |
|  |  |  |  | 512,500 |  |  |  |  |
(1) | Represents anti-dilutive options at September 30, 2014.

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