Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Common Share (EPS) (Tables)

v3.19.1
Earnings (Loss) Per Common Share (EPS) (Tables)
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Schedule of Computation of Earnings per Share The following table represents the computation of earnings per share for the three months ended March 31, 2019 and 2018, respectively:  

 
Predecessor
 
Three Months Ended March 31,
Dollars in thousands, except share and per share amounts
2019
 
2018
Basic EPS
 
 
 
Numerator
 
 
 
Net income (loss) available to common stockholders (numerator)
$
(90,248
)
 
$
(29,702
)
Denominator
 
 
 
Weighted average shares outstanding
9,368,322

 
9,251,066

Number of shares used for basic EPS computation
9,368,322

 
9,251,066

Basic earnings (loss) per common share
$
(9.63
)
 
$
(3.21
)
 
 
 
 
 
 
 
 
 
Predecessor
 
Three Months Ended March 31,
Dollars in thousands, except share and per share amounts
2019
 
2018
Diluted EPS
 
 
 
Numerator
 
 
 
Net income (loss) available to common stockholders (numerator)
$
(90,248
)
 
$
(29,702
)
Denominator
 
 
 
Number of shares used for basic EPS computation
9,368,322

 
9,251,066

Restricted stock units (1)
—

 
—

Predecessor preferred stock
—

 
—

Number of shares used for diluted EPS computation
9,368,322

 
9,251,066

Diluted earnings (loss) per common share
$
(9.63
)
 
$
(3.21
)
(1)
For the three months ended March 31, 2019 and 2018, respectively, all common shares potentially issuable in connection with outstanding restricted stock unit awards have been excluded from the calculation of diluted EPS as the Company incurred losses during the periods, therefore, inclusion of such potential common shares would be anti-dilutive.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share The following shares were excluded from the computation of diluted EPS as such shares would be anti-dilutive:
 
Predecessor
 
Three Months Ended March 31,
 
2019
 
2018
Predecessor common stock from conversion of predecessor preferred stock
1,587,300

 
1,587,300