Earnings (Loss) Per Common Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings (Loss) Per Common Share

Note 5. Earnings (Loss) Per Common Share

Basic earnings (loss) per share is computed by dividing net income (loss) attributable to shares of Common Stock by the basic weighted-average shares of Common Stock outstanding during the period. The calculation of diluted earnings per share is similar to basic, except the denominator includes the effect of dilutive common stock equivalents. Common stock equivalents include awards issued under the Company’s long-term incentive plan.  The Company had no outstanding common stock equivalents for the three months ended March 31, 2016 and 2015.

The following table is a reconciliation of net income and weighted-average shares of Common Stock outstanding for purposes of calculating basic and diluted income per share:

	Three months ended March 31,
(In thousands, except share and per share amounts)	2016			2015
Net loss	$	(6,421	)	$	(1,114	)
Weighted average common shares outstanding:
Basic		13,858,128			13,858,128
Diluted		13,858,128			13,858,128
Net loss per common share:
Basic	$	(0.46	)	$	(0.08	)
Diluted	$	(0.46	)	$	(0.08	)