(Loss) Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

(Loss) Earnings Per Share

(Loss) Earnings Per Share

Basic (loss) earnings per share equals net (loss) income divided by the weighted average common shares outstanding during the period.  Diluted (loss) earnings per share equals net (loss) income divided by the sum of the weighted average common shares outstanding during the period plus dilutive common stock equivalents. The calculation of (loss) earnings per common share on a basic and diluted basis was the same because the inclusion of dilutive common stock equivalents would have been anti-dilutive for all periods presented.

Outstanding stock options to purchase approximately 3,917,000 and 5,607,500 shares of the Company's common stock were excluded from the calculation of diluted loss per share for the three month periods ended March 31, 2014 and 2013, respectively, because their exercise prices exceeded the average market price of the Company's common stock for such periods and, therefore, were antidilutive.