EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2016

ARNINGS (LOSS) PER SHARE

Basic earnings 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 earnings per share computation (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016			2015
Numerator for basic and diluted loss per share:
Net earnings (loss) applicable to common shareholders	$	145	$	1,586	$	(1,101	)	$	178

Denominator for basic and diluted loss per share:
Denominator for basic and diluted loss per share — weighted average shares	12,812		12,776		12,804			12,759
Assumed exercise of stock options	22		21		—			22
Assumed satisfaction of restricted stock conditions	67		60		—			81
Denominator for diluted earnings per share — adjusted weighted average shares	12,901		12,857		12,804			12,862

Common stock equivalents of certain stock-based awards totaling 5,384 and 32,342 were excluded from the calculation of diluted earnings per share for the three months ended June 30, 2016 and 2015, respectively, as they were anti-dilutive. There is no dilutive effect of the restricted stock and stock options for six months ended June 30, 2016 due to the net loss in this period. There would have been 94,666 of these shares included in the diluted calculation for the six months ended June 30, 2016 had there been earnings in this period. Common stock equivalents of certain stock-based awards totaling 24,544 were excluded from the calculation of diluted earnings per share for the six months ended June 30, 2015, as they were anti-dilutive.