Earnings per share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings per share

11. Earnings per share

For the three and six months ended June 30, 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 June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Weighted average common shares-basic		18,445,348		19,140,520		18,322,185		19,285,004
Effect of dilutive securities:
Unexercised stock options net of treasury share repurchase		175,844		129,524		112,943		198,711
Weighted average common shares-diluted		18,621,192		19,270,044		18,435,128		19,483,715

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 945,725 and 1,193,425 outstanding options not included in the diluted earnings per share computation for the three and six months ended June 30, 2014, respectively, because the inclusion of these options was antidilutive. There were 1,160,079 and 996,478 outstanding options not included, respectively, in the diluted earnings per share computation for the three and six months ended June 30, 2013, respectively, because the inclusion of these options was anti-dilutive.