4. Per Share Data

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

4. Per Share Data

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average outstanding common shares during the period. Diluted earnings per share is calculated by dividing net income by the number of shares outstanding under the basic calculation and adding all dilutive securities, which consist of options. The Company had income of $58,000 for the three months ended March 31, 2017 and incurred a net loss of $501,000 for the three months ended March 31, 2016 respectively. Accordingly, basic and diluted net loss per common share are the same for each period as the effect of stock options is anti-dilutive. Shares underlying stock options not included in the diluted computation amounted to 0 in 2017 and 265,000 in 2016.