Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2015

Basic and Diluted Earnings (Loss) Per Common Share

Earnings (Loss) Per Share

10. Earnings (Loss) Per Share

Basic earnings (loss) per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during the reported periods. Diluted EPS reflects the potential dilution that could occur under the treasury stock method if stock options and other commitments to issue common stock were exercised, except in loss periods where the effect would be antidilutive. Approximately 527,000 shares of common stock for the three months ended September 30, 2014 and approximately 509,000 shares of common stock for the nine months ended September 30, 2014 underlying stock options have been excluded from the calculation of diluted EPS because the effect of their inclusion would be antidilutive. For the three and nine months ended September 30, 2015, since we reported a loss from continuing operations, all potential shares totaling 499,000 and 572,000, respectively, were excluded from the computation of diluted EPS as their inclusion would have been antidilutive. For the three and nine months ended September 30, 2015, had we reported income from continuing operations, approximately 477,000 and 445,000 common shares, respectively, would have been excluded from the calculation of diluted EPS because the effect of their inclusion would have been antidilutive. 

The reconciliation of the amounts used in the basic and diluted EPS computation was as follows (in thousands, except per share amounts):

	Amount ($)			Shares		Per Share Amounts ($)
Three Months Ended September 30, 2015:
Basic EPS
Loss from continuing operations	$	(483	)		11,976	$	(0.04	)
Effect of dilutive securities
Dilutive effect of stock options		—			—
Diluted EPS
Adjusted loss from continuing operations	$	(483	)		11,976	$	(0.04	)
Three Months Ended September 30, 2014:
Basic EPS
Income from continuing operations	$	116			12,367	$	0.01
Effect of dilutive securities
Dilutive effect of stock options		—			587
Diluted EPS
Adjusted income from continuing operations	$	116			12,954	$	0.01
Nine Months Ended September 30, 2015:
Basic EPS
Loss from continuing operations	$	(3,832	)		12,101	$	(0.32	)
Effect of dilutive securities
Dilutive effect of stock options		—			—
Diluted EPS
Adjusted loss from continuing operations	$	(3,832	)		12,101	$	(0.32	)
Nine Months Ended September 30, 2014:
Basic EPS
Income from continuing operations	$	4,994			12,217	$	0.41
Effect of dilutive securities
Dilutive effect of stock options		—			654
Diluted EPS
Adjusted income from continuing operations	$	4,994			12,871	$	0.39