EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2016

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



	Year Ended December 31,
	2016		2015		2014
Numerator for basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$	1,224	$	2,610	$	(2,358	)
Gain from disposal of discontinued operation, net of tax	—		—		218
Net Income (loss) applicable to common shareholders	$	1,224	$	2,610	$	(2,140	)

Denominator:
Denominator for basic earnings (loss) per share — weighted average shares	12,824		12,776		12,661
Assumed exercise of stock options	20		21		—
Assumed satisfaction of restricted stock conditions	65		75		—
Denominator for diluted earnings (loss) per share — adjusted weighted average shares	12,909		12,872		12,661

For the year ended December 31, 2016 there were no shares excluded from the calculation of diluted earnings per share. For the years ended December 31, 2015 and December 31, 2014, there were15,995 and 39,752 shares of certain stock-based compensation awards excluded from the calculation of diluted earnings per share, as they were anti-dilutive.