Basic and Diluted Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2017

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

Basic and Diluted Earnings (Loss) Per Common Share

3. Basic and Diluted Earnings per Common Share

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

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

(in thousands, except for share amounts)	Three months ended				Six months ended
	June 30,				June 30,
	2017		2016		2017		2016
Numerator:
Net income	$	827	$	111	$	561	$	249
Denominator:
Weighted-average shares outstanding for basic income per share		19,196,133		18,010,949		19,154,297		17,956,622
Effect of dilutive securities:
Stock options and restricted stock units		365,112		251,464		317,497		237,417
Adjusted weighted-average shares outstanding and assumed conversions for diluted income per share		19,561,245		18,262,413		19,471,794		18,194,039
Shares related to dilutive securities excluded because inclusion would be anti-dilutive		564,833		738,789		564,833		745,415