Basic and Diluted Earnings (Loss) Per Common Share

9 Months Ended

Sep. 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 (loss) earnings per share is based on the weighted average number of outstanding common shares for the period.  Diluted (loss) 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				Nine months ended
	September 30,				September 30,
	2017		2016		2017		2016
Numerator:
Net (loss) income	$	(605)	$	168	$	(44)	$	418
Denominator:
Weighted-average shares outstanding for basic (loss) income per share		19,280,770		18,230,148		19,204,778		18,052,019
Effect of dilutive securities:
Stock options and restricted stock units		-		239,969		-		235,851
Adjusted weighted-average shares outstanding and assumed conversions for diluted (loss) income per share		19,280,770		18,470,117		19,204,778		18,287,870
Shares related to dilutive securities excluded because inclusion would be anti-dilutive		534,833		734,833		550,218		741,862