Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.7.0.1
Earnings per Share
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 12 - Earnings per Share
 
The Successor’s computations of diluted EPS for the three and six-month periods ended June 30, 2017 excluded 800,000 potential shares related to the Preferred Stock due to its antidilutive effects under the if-converted method.
 
For the six months ended June 30, 2017, the Successor’s computation of diluted EPS also excluded  515,310 potential shares from warrants, which were “in the money” (i.e., the average market price exceeded the exercise price), but would have had an antidilutive effect under the treasury stock method for that period. Diluted EPS also excluded 5,915 potential shares in connection with 17,100 remaining UPOs (issued in 2014), which also would have had an antidilutive effect under the treasury stock method for the six months ended June 30, 2017.
 
Warrants to purchase 600,000 shares of common stock at $15.00 per share were outstanding but were not included in the computation of diluted EPS because the warrants’ exercise price was greater than the average market price of the shares of common stock during the period for the three months and six months ended June 30, 2017 (in accordance with ASC 260-10-55-3). These warrants, which expire on various dates through July 20, 2023, were still outstanding at June 30, 2017.  
 
 
 
Three months ended
 
Six months ended
 
(in thousands, except per share amounts)
 
June 30, 2017
 
June 30, 2017
 
EPS numerator:
 
 
 
 
 
 
 
Net income (loss)
 
$
669
 
$
(545)
 
Less: Undistributed preferred stock dividends
 
 
(244)
 
 
(482)
 
Net income (loss) attributable to Limbach Holdings, Inc. common stockholders
 
$
425
 
$
(1,027)
 
 
 
 
 
 
 
 
 
EPS denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding – basic
 
 
7,455
 
 
7,455
 
Impact of dilutive securities (1)
 
 
340
 
 
-
 
Weighted average shares outstanding – diluted
 
 
7,795
 
 
7,455
 
 
 
 
 
 
 
 
 
Basic EPS attributable to common stockholders:
 
 
 
 
 
 
 
Net earnings (loss) attributable to Limbach Holdings, Inc. common stockholders
 
$
0.06
 
$
(0.14)
 
Diluted EPS attributable to common stockholders:
 
 
 
 
 
 
 
Net earnings (loss) attributable to Limbach Holdings, Inc. common stockholders
 
$
0.05
 
$
(0.14)
 
 
(1)
Consists of public, private, merger, additional merger and UPO warrants.
 
Predecessor
 
The Company has not presented predecessor earnings per member unit information because it is not meaningful or comparable to the required Successor EPS information, as well as the fact that Predecessor units were not publicly traded.