| Schedule of Computation of Basic and Diluted Earnings Per Common Share |
The following table illustrates the computation of basic and
diluted earnings (loss) per common share for the three and six
months ended June 30, 2018 and 2017:
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Three Months Ended |
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June 30,
2018 |
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June 30,
2017 |
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(In thousands of US dollars,
except share data)
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Basic and diluted loss per share
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Net loss
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$ |
(21,505 |
) |
|
$ |
(8,059 |
) |
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Basic weighted average common stock outstanding
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|
34,420,654 |
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|
33,952,574 |
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Basic and diluted loss per share
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|
$ |
(0.62 |
) |
|
$ |
(0.24 |
) |
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| |
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Six Months Ended |
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|
June 30,
2018 |
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|
June 30,
2017 |
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(In thousands of US dollars,
except share data)
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Basic Earnings (Loss) per Share
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Net income (loss)
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$ |
(18,742 |
) |
|
$ |
35,679 |
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Basic weighted average common stock outstanding
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|
34,337,345 |
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|
33,808,237 |
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Basic earnings (loss) per share
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|
$ |
(0.55 |
) |
|
$ |
1.06 |
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Diluted Earnings (Loss) per Share
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Net income (loss)
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$ |
(18,742 |
) |
|
$ |
35,679 |
|
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Add back: Interest expense on Exchangeable Notes
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|
$ |
— |
|
|
$ |
2,542 |
|
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Net income (loss) allocated to common stockholders
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|
$ |
(18,742 |
) |
|
$ |
38,221 |
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Basic weighted average common stock outstanding
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|
34,337,345 |
|
|
|
33,808,237 |
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Net effect of dilutive equity awards
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— |
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|
439,264 |
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Net effect of assumed conversion of 5.0% Exchangeable Notes to
common stock
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— |
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9,524,614 |
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Diluted weighted average common stock outstanding
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|
34,337,345 |
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|
|
43,772,115 |
|
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Diluted earnings (loss) per share
|
|
$ |
(0.55 |
) |
|
$ |
0.87 |
|
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| Schedule of Antidilutive Securities Excluded from the Computation of Earnings Per Common Share |
The following outstanding instruments were excluded from the
computation of diluted earnings (loss) per share, as they have an
anti-dilutive effect on the calculation:
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Three Months Ended |
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Six Months Ended |
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June 30,
2018 |
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June 30,
2017 |
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June 30,
2018 |
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June 30,
2017 |
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Options
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2,782,874 |
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3,006,377 |
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2,782,874 |
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1,026,605 |
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Restricted Stock Units
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|
499,889 |
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|
149,495 |
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|
499,889 |
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— |
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