Net Income Per Common Share

12 Months Ended

Dec. 31, 2015

5. Net Income (Loss) Per Common Share

Net income (loss) per common share, as shown on the accompanying Consolidated Statements of Operations, is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

	2015		2014		2013
Weighted average common shares outstanding basic		30,616,485		32,232,965		33,588,720
Dilutive effect of stock options and restricted stock		327,208		471,047		454,705
Weighted average common shares outstanding diluted		30,943,693		32,704,012		34,043,425

Options to purchase 463,200, 198,500 and 123,900 shares of common stock that were outstanding at December 31, 2015, 2014 and 2013, respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options was greater than the average market price of common shares, and were therefore anti-dilutive.