| 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 pursuant to the exercise of outstanding stock options.
Computations of basic and diluted earnings per common share of the Company for the three and six months ended June 30, 2015 and 2014 were as follows (in thousands, except share and per share data):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2015 |
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2014 |
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2015 |
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2014 |
Net income (loss) attributable to Era Group Inc.(1)
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$ |
11,163 |
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$ |
5,150 |
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$ |
11,148 |
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$ |
9,539 |
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Shares: |
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Weighted average common shares outstanding - basic |
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20,273,780 |
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20,066,060 |
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20,235,082 |
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20,009,808 |
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Net effect of dilutive stock options and restricted stock awards based on the treasury stock method (2)
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58,877 |
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68,413 |
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60,416 |
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70,309 |
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Weighted average common shares outstanding - diluted |
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20,332,657 |
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20,134,473 |
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20,295,498 |
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20,080,117 |
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Earnings (loss) per common share: |
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Basic |
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$ |
0.55 |
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$ |
0.26 |
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$ |
0.55 |
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$ |
0.48 |
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Diluted |
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$ |
0.55 |
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$ |
0.26 |
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$ |
0.55 |
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$ |
0.48 |
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(1) |
Excludes net income of $170 and $71 attributable to unvested common shares for the three months ended June 30, 2015 and 2014, respectively and $143 and $127 for the six months ended June 30, 2015 and 2014, respectively.
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(2) |
Excludes weighted average common shares of 105,000 and 45,000 for the three months ended June 30, 2015 and 2014, respectively, and 79,000 and 25,500 for the six months ended June 30, 2015 and 2014, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.
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