Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

10.  EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. For the calculation of diluted shares, we assume that restricted stock is outstanding on the date of vesting, and we assume the issuance of shares from the exercise of stock options using the treasury stock method.

A reconciliation from basic to diluted shares follows:   



 

 

 

 

 

 

 

 



 

Three Months Ended June 30,

 

Six Months Ended June 30,



 

2017

 

2016

 

2017

 

2016



 

(in thousands)

Basic weighted average shares outstanding

 

 58,658 

 

 58,464 

 

 58,613 

 

 58,488 

Effect of dilutive securities

 

 -

 

 -

 

 6 

 

 -

Diluted weighted average shares outstanding

 

 58,658 

 

 58,464 

 

 58,619 

 

 58,488 



 

 

 

 

 

 

 

 

Stock options and unvested restricted stock grants excluded from dilutive

 

 

 

 

 

 

 

 

calculation because they would be anti-dilutive

 

 3,307 

 

 4,413 

 

 2,772 

 

 3,522 

Because we recognized a net loss for the three and six months ended June 30, 2016, there were no dilutive securities for those periods.