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Earnings Per Share
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share





 

 



11.

Earnings Per Share:



We have adopted the provisions of ASC 260, “Earnings Per Share,” requiring presentation of both basic and diluted earnings per share. A reconciliation of the numerators and denominators of the basic and diluted per share calculations is presented below (in thousands, except per share amounts):







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

2017

 

2016

 

2015

Numerator for both basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

 (11,553)

 

$

 6,526 

 

$

 21,863 



 

 

 

 

 

 

 

 

 

Denominator, basic shares

 

 

 18,343 

 

 

 18,780 

 

 

 19,211 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock-based compensation awards

 

 

 -

 

 

 161 

 

 

 194 

Denominator, diluted shares

 

 

 18,343 

 

 

 18,941 

 

 

 19,405 



 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

$

 (0.63)

 

$

 0.35 

 

$

 1.14 



 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

$

 (0.63)

 

$

 0.34 

 

$

 1.13 



We had 406,731 shares, 272,500 shares and 267,500 shares of common stock potentially issuable upon exercise of employee stock options for years ended December 31, 2017, 2016 and 2015, respectively, that were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive. These instruments expire at varying times from 2018 to 2020.