Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

For purposes of this calculation, stock warrants, outstanding stock options and unvested restricted shares are considered common stock equivalents using the treasury stock method, and are the only such equivalents outstanding.

Basic net loss and diluted net loss per share data were computed as follows (in thousands except per share data):

 
Three Months Ended March 31,
 
2017
 
2016
Numerator:
 
 
 
Net (loss) for basic earnings per share
$
(9,580
)
 
$
(5,254
)
Change in fair value of warrant liability

 
17

Net (loss) for diluted earnings per share
$
(9,580
)
 
$
(5,271
)
Denominator:
 
 
 
Weighted-average basic common shares outstanding
18,904

 
13,547

Assumed conversion of dilutive securities:
 
 
 
Common stock purchase warrants

 

Potentially dilutive common shares

 

Denominator for diluted earnings per share – adjusted weighted-average shares
18,904

 
13,547

Basic net (loss) per share
$
(0.51
)
 
$
(0.39
)
Diluted net (loss) per share
$
(0.51
)
 
$
(0.39
)
 
 
 
 

The following table summarizes equivalent units outstanding that were excluded from the earnings per share calculation because their effects were anti-dilutive (in thousands):

 
Three Months Ended March 31,
 
2017
 
2016
Common stock purchase warrants
6,608

 
4,362

Stock options
2,520

 
1,928

Restricted shares of common stock
68

 
98

 
9,196

 
6,388