Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER COMMON SHARE

v2.4.1.9
EARNINGS (LOSS) PER COMMON SHARE
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER COMMON SHARE
EARNINGS (LOSS) PER COMMON SHARE
Basic earnings per common share of the Company are computed based on the weighted average number of common shares issued and outstanding during the relevant periods. Diluted earnings per common share of the Company are computed based on the weighted average number of common shares issued and outstanding plus the effect of potentially dilutive securities through the application of the if-converted method and/or treasury method. Dilutive securities for this purpose assumes all common shares have been issued and outstanding during the relevant periods pursuant to the conversion of all outstanding Series A preferred stock, restricted stock grants have vested and common shares have been issued pursuant to the exercise of outstanding stock options.
Computations of basic and diluted earnings per common share of the Company were as follows (in thousands, except share and per share data):
 
 
Three Months Ended 
 March 31,
 
 
2015
 
2014
Net income (loss) attributable to Era Group Inc.(1)
 
$
(42
)
 
$
4,389

Shares:
 
 
 
 
Weighted average number of common shares outstanding—basic
 
20,195,955

 
19,952,930

Net effect of dilutive stock options and restricted stock awards based on the treasury stock method (2)
 
—

 
72,205

Weighted average number of common shares outstanding—diluted
 
20,195,955

 
20,025,135

 
 
 
 
 
Earnings (loss) per common share:
 
 
 
 
Basic
 
$
—

 
$
0.22

Diluted
 
$
—

 
$
0.22

____________________
(1)
Excludes net income of $0 and $56 attributable to unvested common shares for the three months ended March 31, 2015 and 2014, respectively.
(2)
Excludes weighted average common shares of 114,955 and 6,000 for the three months ended March 31, 2015 and 2014, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.