Earnings per share ("EPS")

9 Months Ended

Sep. 30, 2017

12. Earnings per share (“EPS”)

For the three and nine months ended September 30, 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 September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Weighted average common shares-basic		18,180,845		18,091,650		18,071,093		18,238,533
Effect of dilutive securities
Unexercised stock options and stock purchase plan		249,667		194,922		164,716		181,126
Unvested time-based restricted stock awards and units		94,470		95,546		117,320		150,202
Unvested market-based restricted stock units		47,809		—		41,413		—
Weighted average common shares-diluted		18,572,791		18,382,118		18,394,542		18,569,861

There were 503,757 and 571,601 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 September 30, 2017 and 2016, respectively, and 534,288 and 468,296 outstanding options, restricted stock, and performance-based or market-based equity awards not included in the diluted earnings per share computation for the nine months ended September 30, 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.