(Loss) Earnings Per Share

Basic earnings (loss) per share (“EPS”) is computed by dividing net earnings (loss) applicable to common stockholders by the weighted average numbers of shares of common stock outstanding during the period. Diluted EPS is computed similarly to basic EPS, except that the denominator is increased for the assumed exercise of dilutive stock options and unvested restricted stock calculated using the treasury stock method.



	Three Months Ended June 30,					Six Months Ended June 30,
	2017			2016		2017			2016
Weighted average number of common shares outstanding — basic	26,692,919			25,638,070		26,651,796			25,355,393
Effect of dilutive share based awards	—			527,757		—			380,219
Weighted average number of common shares outstanding — diluted	26,692,919			26,165,827		26,651,796			25,735,612

(Loss) earnings per share:
Basic	$	(0.02	)	$	0.81	$	(0.13	)	$	0.54
Diluted	$	(0.02	)	$	0.79	$	(0.13	)	$	0.54

For the three and six months ended June 30, 2017, there was no effect of dilutive stock options and unvested restricted common stock on the calculation of diluted EPS as the Company had a net loss for these periods. There would have been 43,033 and 47,362 anti-dilutive shares had the Company not been in a net loss position for the three and six months ended June 30, 2017, respectively.

For the three and six months ended June 30, 2016, the Company did not include stock options to purchase 120,753 and 1,060,544 shares of the Company's common stock in the calculations of diluted EPS because the exercise prices of those options were greater than the average market price and such inclusion would be anti-dilutive.