Earnings (loss) per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings (loss) per Share

2. Earnings (loss) per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted earnings per share include the dilutive effects of stock options and unvested restricted stock awards and units.

The following reconciles the denominator used in the calculation of diluted earnings (loss) per share:

	Three Months Ended
	March 31,
	2016		2015
Denominator:
Weighted average common shares for basic earnings per share		16,481,122		17,296,978
Effect of dilutive securities		—		79,950
Weighted average common shares for diluted earnings per share		16,481,122		17,376,928

The weighted average common shares for diluted earnings per share exclude stock options and unvested restricted stock awards and units to purchase 536,580 and 564,746 shares for the three months ended March 31, 2016 and 2015, respectively. These options have been excluded from the calculation, as including them would have an anti-dilutive effect on earnings (loss) per share for the respective periods.