Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2016

6. 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:

	For the Year Ended December 31,
	2016		2015		2014
Weighted average common shares outstanding basic		29,750,378		30,616,485		32,232,965
Dilutive effect of stock options and restricted stock		217,534		327,208		471,047
Weighted average common shares outstanding diluted		29,967,912		30,943,693		32,704,012

Options to purchase 551,761, 463,200 and 198,500 shares of common stock that were outstanding at December 31, 2016, 2015 and 2014, 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.