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Earnings (Loss) per share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings (Loss) per share

2. Earnings (Loss) per share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the periods. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and is calculated using the treasury stock method for stock options, restricted stock units (“RSUs”) and deferred common stock. Common equivalent shares are excluded from the calculation in loss periods, as their effects would be anti-dilutive.

The information related to basic and diluted earnings (loss) per share for the three and six months ended June 30, 2018 and 2017 is as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands, except share data)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

2,645

 

 

$

(8,276

)

 

$

(2,913

)

 

$

(18,108

)

Net loss from discontinued operations

 

 

-

 

 

 

(12,133

)

 

 

(21,124

)

 

 

(15,026

)

Net income (loss)

 

$

2,645

 

 

$

(20,409

)

 

$

(24,037

)

 

$

(33,134

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

75,282,042

 

 

 

54,778,046

 

 

 

71,318,930

 

 

 

54,297,536

 

Diluted

 

 

78,196,959

 

 

 

54,778,046

 

 

 

71,318,930

 

 

 

54,297,536

 

Basic earnings (loss) per share: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Continuing operations

 

$

0.04

 

 

$

(0.15

)

 

$

(0.04

)

 

$

(0.33

)

  Discontinued operations

 

$

-

 

 

$

(0.22

)

 

$

(0.30

)

 

$

(0.28

)

  Net income (loss)

 

$

0.04

 

 

$

(0.37

)

 

$

(0.34

)

 

$

(0.61

)

Diluted earnings (loss) per share: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Continuing operations

 

$

0.03

 

 

$

(0.15

)

 

$

(0.04

)

 

$

(0.33

)

  Discontinued operations

 

$

-

 

 

$

(0.22

)

 

$

(0.30

)

 

$

(0.28

)

  Net income (loss)

 

$

0.03

 

 

$

(0.37

)

 

$

(0.34

)

 

$

(0.61

)

 

(1)Earnings (loss) per share tables may contain summation differences due to rounding.

 

The following potential shares of common stock were excluded from the calculation of diluted earnings (loss) per share because their effect would have been anti-dilutive for the periods presented:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

3,750,003

 

 

 

16,529,848

 

 

 

6,664,920

 

 

 

16,529,848

 

Warrants

 

 

2,623,776

 

 

 

2,220,102

 

 

 

2,623,776

 

 

 

2,220,102

 

Stock options

 

 

137,000

 

 

 

220,000

 

 

 

137,000

 

 

 

220,000

 

Total anti-dilutive securities

 

 

6,510,779

 

 

 

18,969,950

 

 

 

9,425,696

 

 

 

18,969,950