Basic and Diluted Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2014

Basic and Diluted Income (Loss) Per Common Share [Abstract]

Basic and Diluted Income (Loss) Per Common Share

3. Basic and Diluted Loss Per Common Share

Basic loss per share is based on the weighted average number of outstanding common shares for the period.  Diluted loss per share adjusts the weighted average shares outstanding for the potential dilution that could occur if stock options were exercised into common stock.

The number of common shares and common share equivalents used in the determination of basic and diluted loss per share were as follows:

(in thousands, except for share amounts)	Three Months ended
	March 31,
	2014			2013
Numerator:
Net loss	$	(2,024	)	$	(1,155	)
Denominator:
Weighted-average shares outstanding for basic earnings per share		17,887,859			18,340,554
Effect of dilutive securities:
Employee stock options		-			-
Adjusted weighted-average shares outstanding and assumed conversions for diluted earnings per share		17,887,859			18,340,554
Shares related to dilutive securities excluded because inclusion would be anti-dilutive		2,897,319			2,898,615