Quarterly report pursuant to Section 13 or 15(d)

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.19.1
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Diluted net income (loss) per common share is based on the weighted-average number of common shares outstanding and potentially dilutive common shares outstanding and computed as follows:
 
Three Months ended
March 31,
 
2019
 
2018
 
(In thousands, except share and per share data)
Numerator:
 
 
 
Net income (loss) to common stockholders
$
(6,002
)
 
$
28,294

 
 
 
 
Denominator:
 
 
 
Weighted-average common shares, basic
27,594,372

 
27,719,689

Weighted-average common shares, diluted*
27,594,372

 
30,284,175

Net income (loss) per common share:
 
 
 
Basic:
$
(0.22
)
 
$
1.02

Diluted:
$
(0.22
)
 
$
0.93

* For the three months ended March 31, 2019 the securities would be anti-dilutive and therefore were excluded. For the three months ended March 31, 2018, the diluted earnings per common share included 626,212 unvested RSU's and the weighted average effect of 1,938,274 stock options that are potentially dilutive to earnings per share, since the exercise price of such securities was less than the average market price during the period.
Summary of Components Excluded from Computation of Diluted Net Loss Per Share
Potentially dilutive common shares from employee equity plans and warrants are determined by applying the treasury stock method assumed exercise of warrants and share options and were excluded from the computation of diluted net income (loss) per share because their inclusion would be anti-dilutive and consist of the following:
 
Three Months ended
March 31,
 
2019
 
2018
Stock options
2,486,646

 
779,773

Restricted stock units
288,108

 

Warrants
2,355,506

 
2,355,506

Total
5,130,260

 
3,135,279