Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 2018

9. 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,
	2018		2017		2018		2017
Weighted average common shares outstanding basic		35,229,171		30,266,838		32,783,853		30,149,818
Dilutive effect of stock options and restricted stock		—		385,105		—		374,343
Weighted average common shares outstanding diluted		35,229,171		30,651,943		32,783,853		30,524,161

Due to the net loss for the three and nine months ended September 30, 2018, diluted weighted-average shares outstanding are equal to basic weighted-average shares outstanding because the effect of all equity awards is anti-dilutive. 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, 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.