EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2016

Basic earnings (loss) per share is computed using the weighted average number of shares of common stock outstanding during the period. In periods of earnings, the weighted average number of shares used in the diluted calculation includes common stock equivalents related to stock options and restricted stock. The following table presents the basis of the loss per share computation (in thousands):



	Three Months Ended March 31,
	2016			2015
Numerator for basic and diluted loss per share:
Net loss applicable to common shareholders	$	(1,245	)	$	(1,408	)

Denominator for basic and diluted loss per share:
Denominator for basic and diluted loss per share — weighted average shares	12,797			12,742

There is no dilutive effect of the restricted stock and stock options for both the three months ended March 31, 2016 and 2015 due to the net loss in these periods. There would have been 100,365 and 126,004 of these shares included in the diluted calculation for the three months ended March 31, 2016 and 2015, respectively, had there been earnings in these periods. Common stock equivalents of certain stock-based awards totaling 16,746 were excluded from the calculation of diluted loss per share for the three months ended March 31, 2015 as they were anti-dilutive.