Earnings per share ("EPS")

3 Months Ended

Mar. 31, 2017

11. Earnings per share (“EPS”)

For the three months ended March 31, 2017 and 2016, no adjustments were made to net income (loss) for purposes of calculating basic and diluted EPS. The following is a reconciliation of the weighted average shares used in diluted EPS computations.

	Three Months Ended March 31,
	2017		2016
Weighted average common shares-basic		17,979,675		18,477,881
Effect of dilutive securities
Unexercised stock options and stock purchase plan		—		138,292
Unvested time-based restricted stock awards		—		142,578
Weighted average common shares-diluted		17,979,675		18,758,751

There were 1,019,185 and 387,396 outstanding options, restricted stock, and performance-based or market-based equity awards not included in the diluted earnings per share computation for the three months ended March 31, 2017 and 2016, respectively, because inclusion of these awards was anti-dilutive or, for performance-based and market-based awards, all necessary conditions had not been satisfied by the end of the respective period.