Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2020

Basic net income (loss) per common share is computed by dividing the net income (loss) relevant to the common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share uses the same net income (loss) divided by the sum of the weighted average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance and restricted stock units outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method.

The table below shows the calculations for the three months ended March 31, 2020 and 2019, (in thousands, except for per share data).




	Three Months Ended March 31,
	2020			2019
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders	$	(7,804	)	$	69,805

Denominator
Denominator for basic income (loss) per share	100,687			100,232
Dilutive effect of stock options	—			3,160
Dilutive effect of performance share units	—			555
Dilutive effect of restricted stock units	—			176
Denominator for diluted income (loss) per share	100,687			104,123

Basic income (loss) per share	$	(0.08	)	$	0.70
Diluted income (loss) per share	$	(0.08	)	$	0.67

As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of March 31, 2020 and 2019, respectively, have not been included in the calculation of diluted income (loss) per common share because they will be anti-dilutive to the calculation of diluted net income (loss) per common share.



(In thousands)

	2020	2019

Stock options	4,230	—
Restricted stock units	1,228	—
Performance stock units	1,051	—
Total	6,509	—