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,
	2017		2016		2017		2016
Numerator for basic and diluted loss per share:
Net earnings (loss) applicable to common shareholders	$	2,522	$	145	$	475	$	(1,101	)

Denominator for basic and diluted loss per share:
Denominator for basic and diluted loss per share — weighted average shares	12,894		12,812		12,887		12,804
Assumed exercise of stock options	1		22		1		—
Assumed satisfaction of restricted stock conditions	37		67		33		—
Denominator for diluted earnings per share — adjusted weighted average shares	12,932		12,901		12,921		12,804

Common stock equivalents of certain stock-based awards totaling 81,233 and 5,384 were excluded from the calculation of diluted earnings per share for the three months ended June 30, 2017 and June 30, 2016, respectively, as they were anti-dilutive. Common stock equivalents of certain stock-based awards totaling 41,681 were excluded from the calculation of diluted earnings per share for the six months ended June 30, 2017, 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.