Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 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 September 30,				For the Nine Months Ended September 30,
	2017		2016		2017		2016
Weighted average common shares outstanding basic		30,266,838		29,849,005		30,149,818		29,682,798
Dilutive effect of stock options and restricted stock		385,105		226,473		374,343		266,913
Weighted average common shares outstanding diluted		30,651,943		30,075,478		30,524,161		29,949,711

Options to purchase 256,600 and 261,100 shares of common stock that were outstanding for the three and nine months ended September 30, 2017, respectively, and 569,050 for the three and nine months ended September 30, 2016, 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.