Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2018

Income (Loss) Per Common Share [Abstract]

Income (Loss) Per Common Share

13.  Income (Loss) Per Common Share 

The following table sets forth the computation of basic and diluted income (loss) per common share (in thousands, except per share data): 

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Basic income (loss) per common share	2018		2017		2018		2017
Net income (loss)	$	226	$	3,163	$	(3,629)	$	5,386
Net (income) loss allocated to participating securities		(2)		(62)		31		(106)
Net income (loss) allocated to common shareholders	$	224	$	3,101	$	(3,598)	$	5,280
Basic weighted-average common shares outstanding		36,318		32,664		36,233		32,552
Basic income (loss) per common share	$	0.01	$	0.09	$	(0.10)	$	0.16
	Three Months Ended				Six Months Ended
	June 30,				June 30,
Diluted income (loss) per common share	2018		2017		2018		2017
Net income (loss)	$	226	$	3,163	$	(3,629)	$	5,386
Net (income) loss allocated to participating securities		(2)		(60)		31		(103)
Net income (loss) allocated to common shareholders	$	224	$	3,103	$	(3,598)	$	5,283
Basic weighted-average common shares outstanding		36,318		32,664		36,233		32,552
Effect of dilutive stock options and awards		931		1,150		--		1,187
Diluted weighted-average common shares outstanding		37,249		33,814		36,233		33,739
Diluted income (loss) per common share	$	0.01	$	0.09	$	(0.10)	$	0.16

We excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares because the inclusion of these stock options would be antidilutive to income (loss) per common share.  Accordingly, for the three months ended June 30, 2018 stock options to purchase a weighted-average 219,000shares were antidilutive and excluded from the calculation of diluted weighted-average common shares outstanding.  For the six months ended June 30, 2018 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss.  For the three and six months endedJune 30, 2017 stock options to purchase a weighted-average 264,000 shares and 190,000 shares, respectively, were antidilutive and excluded from the calculation of diluted weighted-average common shares outstanding.