Earnings per share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings per share

10. Earnings per share

For the three months ended March 31, 2014, and 2013, there were no adjustments to net income (loss) for purposes of calculating basic and diluted net income (loss) available to common shareholders. The following is a reconciliation of the weighted average shares used in the basic and diluted net income (loss) per common share computations.

	Three Months Ended March 31,
	2014		2013
Weighted average common shares-basic		18,197,363		19,431,093
Effect of dilutive securities:
Unexercised stock options net of treasury share repurchase		—		260,048
Weighted average common shares-diluted		18,197,363		19,691,141

Options to purchase shares of common stock with exercise prices in excess of the average market price of common shares are not included in the computation of diluted earnings per share. There were 1,691,203 and 973,037 outstanding options not included in the diluted earnings per share computation for the three months ended March 31, 2014, and 2013, respectively, because the inclusion of these options was antidilutive.