| Basic and Diluted Earnings (Loss) Per Share of Common Stock |
The following tables set forth the computation of basic and diluted earnings (loss) per share of common stock for the three months ended March 31, 2017 and 2016, respectively. We computed basic earnings (loss) per share for the three months ended March 31, 2017 and 2016, respectively, using the weighted average number of shares outstanding during the periods. Diluted earnings (loss) per share for the three months ended March 31, 2017 and 2016, reflects additional shares of common stock related to our convertible Senior Common Stock (if the effect would be dilutive), that would have been outstanding if dilutive potential shares of common stock had been issued, as well as an adjustment to net income available to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts).
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For the three months ended March 31, |
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2017 |
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2016 |
Calculation of basic earnings (loss) per share of common stock: |
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Net income (loss) available (attributable) to common stockholders |
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$ |
1,735 |
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$ |
(426 |
) |
Denominator for basic weighted average shares of common stock |
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24,963,926 |
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22,545,285 |
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Basic earnings (loss) per share of common stock |
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$ |
0.07 |
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$ |
(0.02 |
) |
Calculation of diluted earnings (loss) per share of common stock: |
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Net income (loss) available (attributable) to common stockholders |
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$ |
1,735 |
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$ |
(426 |
) |
Add: income impact of assumed conversion of senior common stock (1) |
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— |
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— |
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Net income (loss) available (attributable) to common stockholders plus assumed conversions (1) |
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$ |
1,735 |
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$ |
(426 |
) |
Denominator for basic weighted average shares of common stock |
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24,963,926 |
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22,545,285 |
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Effect of convertible Senior Common Stock (1) |
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— |
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— |
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Denominator for diluted weighted average shares of common stock (1) |
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24,963,926 |
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22,545,285 |
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Diluted earnings (loss) per share of common stock |
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$ |
0.07 |
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$ |
(0.02 |
) |
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(1) |
We excluded convertible shares of Senior Common Stock of 798,388 and 800,116 from the calculation of diluted earnings per share for the three months ended March 31, 2017 and 2016, respectively, because it was anti-dilutive.
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