Earnings (Loss) Per Common Share

The following tables set forth the computations of basic and diluted loss per common share for the three and nine months ended September 30, 2015 and 2014 (in thousands, except per share data):



	Three Months Ended September 30,						Nine Months Ended September 30,
Basic loss per common share:	2015			2014			2015			2014
Numerator:
Net loss	$	(3,409	)	$	(239	)	$	(5,270	)	$	(5,381	)

Denominator:
Weighted-average common shares outstanding	25,167			27,744			26,015			29,203

Basic loss per common share	$	(0.14	)	$	(0.01	)	$	(0.20	)	$	(0.18	)



	Three Months Ended September 30,						Nine Months Ended September 30,
Diluted loss per common share:	2015			2014			2015			2014
Numerator:
Net loss	$	(3,409	)	$	(239	)	$	(5,270	)	$	(5,381	)

Denominator:
Weighted-average common shares outstanding	25,167			27,744			26,015			29,203
Incremental shares from stock-based compensation plans	—			—			—			—
Denominator for diluted loss per common share	25,167			27,744			26,015			29,203

Diluted loss per common share	$	(0.14	)	$	(0.01	)	$	(0.20	)	$	(0.18	)

For the three and nine months ended September 30, 2015, weighted-average common shares outstanding excludes from the computation of diluted earnings (loss) per common share antidilutive shares underlying options that totaled 3.6 million shares. For the three and nine months ended September 30, 2014, weighted-average common shares outstanding excludes from the computation of diluted earnings (loss) per common share antidilutive shares underlying options that totaled 3.8 million shares and antidilutive Performance Units related to the Company's 2006 Management Incentive Plan that totaled less than 0.1 million shares. As a result of the net loss for the three months ended September 30, 2015 and September 30, 2014 and the nine months ended September 30, 2015 and September 30, 2014, all shares underlying stock options and Performance Units were considered antidilutive for such periods. The number of common shares used in the basic and diluted earnings (loss) per common share computations include nonvested restricted shares of 0.4 million and 0.6 million for the three and nine months ended September 30, 2015 and 2014, respectively, and nonvested restricted share units that we consider to be participating securities of 2.6 million and 0.1 million for the three and nine months ended September 30, 2015 and 2014, respectively.

We repurchased 1,735,277 shares of our common stock during the three months ended September 30, 2015 for $6.9 million, and 3,912,037 shares of our common stock during the nine months ended September 30, 2015 for $17.3 million. We repurchased 1,413,017 shares of our common stock during the three months ended September 30, 2014 for $9.0 million, and 3,117,277 shares of our common stock during the nine months ended September 30, 2014 for $20.0 million.

Pursuant to exercises of outstanding stock options, we issued no shares of our common stock in the three months ended September 30, 2015 and 12,863 shares of our common stock having a value of less than $0.1 million in the nine months ended September 30, 2015. We issued 105,478 shares of our common stock having a value of less than $0.5 million in the three months ended September 30, 2014 and 710,063 shares of our common stock having a value of $2.8 million in the nine months ended September 30, 2014. Stock option exercises during the nine-month period ended September 30, 2014 primarily consisted of exercises by a former executive officer of the Company.

In partial satisfaction of a business acquisition obligation, we issued 187,620 shares of our common stock having a value of $1.3 million in the nine months ended September 30, 2014. There were no shares issued to satisfy business acquisition obligations in the nine months ended September 30, 2015.