Net Income (Loss) Per Common Share - Basic and Diluted

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share - Basic and Diluted

Net Income (Loss) Per Common Share – Basic and Diluted

Basic income (loss) per share is based upon the net income (loss) applicable to common shares and upon the weighted average number of common shares outstanding during the period. Diluted income (loss) per share reflects the effect of the assumed exercise of stock options only in periods in which such effect would have been dilutive. The computation of the Company’s basic and diluted earnings per share (in thousands, except per share data):

	For The Three Months Ended March 31,
	2017		2016
Income available to common shareholders (A)	$	1,409	$	831
Weighted average common shares outstanding (B)	123,494		122,256
Dilutive effect of equity incentive plans	1,406		30
Weighted average common shares outstanding, assuming dilution (C)	124,900		122,286
Basic earnings per common share (A)/(B)	$	0.01	$	0.01
Diluted earnings per common share (A)/(C)	$	0.01	$	0.01

For the three months ended March 31, 2017, a total of 600,000 shares of common stock underlying vested and exercisable stock options were excluded from the calculation of diluted earnings per common share as the exercise prices of the stock options were greater than the market value of the common shares (out-of-the-money).

For the three months ended March 31, 2016, a total of 600,000 shares of common stock underlying vested and exercisable stock options were excluded from the calculation of diluted earnings per common share as the exercise prices of the stock options were out-of-the-money.

Out-of-the money options could be included in the calculation in the future if the market value of the Company’s common shares increases and is greater than their exercise price.