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(LOSS) EARNINGS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE
 
Basic net income per common share is based upon the weighted average number of common shares outstanding.  Diluted net income per common share is based upon the weighted average number of common shares outstanding, including the dilutive effect of restricted stock, using the if-converted methods.

The following table shows a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share.
 
Year ended December 31,
 
2013
 
2012
 
2011
Numerators
 
 
 
 
 
Net (loss) income
$
(58,485
)
 
$
16,487

 
$
16,389

Denominators


 


 


Weighted average common shares - basic
12,607,833

 
11,701,607

 
11,559,895

Dilutive effect of restricted stock
—

 
137,575

 
181,618

  Weighted average common shares - diluted
12,607,833

 
11,839,182

 
11,741,513

Basic earnings per share
$
(4.64
)
 
$
1.41

 
$
1.42

Diluted earnings per share
$
(4.64
)
 
$
1.39

 
$
1.40


 
For the twelve months ended December 31, 2013, 111,976 shares are not included in the calculation of diluted earnings per share, as their inclusion would have been anti-dilutive. These securities could be dilutive in future periods.