| 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 nine months ended September 30, 2015 and 2014 were as follows (in thousands, except share and per share data):
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Three Months Ended
September 30, |
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Nine Months Ended
September 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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$ |
848 |
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$ |
4,213 |
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$ |
11,989 |
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$ |
13,752 |
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Shares: |
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Weighted average common shares outstanding - basic |
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20,260,514 |
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20,098,239 |
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20,243,653 |
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20,039,609 |
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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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26,555 |
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65,751 |
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49,129 |
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68,790 |
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Weighted average common shares outstanding - diluted |
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20,287,069 |
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20,163,990 |
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20,292,782 |
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20,108,399 |
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Earnings (loss) per common share: |
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Basic |
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$ |
0.04 |
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$ |
0.21 |
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$ |
0.59 |
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$ |
0.69 |
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Diluted |
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$ |
0.04 |
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$ |
0.21 |
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$ |
0.59 |
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$ |
0.68 |
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(1) |
Excludes net income of $13 and $53 attributable to unvested common shares for the three months ended September 30, 2015 and 2014, respectively, and $163 and $180 for the nine months ended September 30, 2015 and 2014, respectively.
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(2) |
Excludes weighted average common shares of 331,145 and 45,000 for the three months ended September 30, 2015 and 2014, respectively, and 163,048 and 31,978 for the nine months ended September 30, 2015 and 2014, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.
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