Earnings (Loss) Per Share (EPS)
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share (EPS)
Earnings (Loss) per Share (EPS)

Basic earnings (loss) per share is based on the weighted average number of shares of common stock outstanding, while diluted earning (loss) per share is based on the weighted average number of shares of common stock outstanding and common stock equivalents that would be issuable upon the exercise of stock options, other share-based compensation arrangements, and the dilutive effect of outstanding warrants. The following table reconciles the net income and the weighted average shares of common stock outstanding used in the computations of basic and diluted earnings (loss) per share of common stock:

 
For the three months ended September 30,
 
For the nine months ended September 30,
 
2016
 
2015
 
2016
 
2015

(In Thousands, except for per share data)
Net income (loss)
$
6,175

 
$
(4,799
)
 
$
4,279

 
$
(22,972
)
 
 
 
 
 
 
 
 
Basic earnings (loss) per share
$
0.10

 
$
(0.08
)
 
$
0.07

 
$
(0.39
)
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
59,130,401

 
58,741,328

 
59,047,758

 
58,650,043

Dilutive effect of non-vested shares
1,154,345

 
—

 
814,158

 
—

Dilutive weighted average shares outstanding
60,284,746

 
58,741,328

 
59,861,916

 
58,650,043

 
 
 
 
 
 
 
 
Diluted earnings (loss) per share
$
0.10


$
(0.08
)
 
$
0.07

 
$
(0.39
)


For the three and nine months ended September 30, 2016, 4,012,046 of our common stock equivalents we issued under share-based compensation arrangements and warrants were not included in the calculation of diluted earnings (loss) per share because they were anti-dilutive. Non-vested shares of 1,154,345 and 814,158 were included in our weighted average number of common shares outstanding for the three and nine months ended September 30, 2016, respectively.
As a result of our net losses for the three and nine months ended September 30, 2015, 6,823,234 of our common stock equivalents we issued under share-based compensation arrangements and warrants were not included in the calculation of diluted earnings (loss) per share as of such dates because they were anti-dilutive.