Net Income (Loss) per Common Share

3 Months Ended

Mar. 31, 2017

8. Net Income (Loss) per Common Share

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

	For the Three Months Ended March 31,
	2017		2016
Weighted average common shares outstanding basic		30,029,679		29,547,514
Dilutive effect of stock options and restricted stock		262,904		—
Weighted average common shares outstanding diluted		30,292,583		29,547,514

Options to purchase 856,559 shares of common stock that were outstanding for the three months ended March 31, 2017, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive. There were 2,136,840 stock-based awards excluded from the computation of net loss per common share for the three months ended March 31, 2016 due to the Company’s net loss for the period.