Basic and Diluted Loss per Common Share

6 Months Ended

Jun. 30, 2018

Basic and Diluted Loss per Common Share [Abstract]

Basic and Diluted Loss per Common Share

3. Basic and Diluted Income (Loss) per Common Share

Basic income (loss) per share is based on the weighted average number of outstanding common shares for the period. Diluted income (loss) 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,
	2018		2017		2018		2017
Numerator:
Net income (loss)	$	981	$	827	$	(515)	$	561
Denominator:
Weighted-average shares outstanding for basic income (loss) per share		19,651,441		19,196,133		19,580,046		19,154,297
Effect of dilutive securities:
Stock options and restricted stock units		377,682		365,112		-		317,497
Adjusted weighted-average shares outstanding and assumed conversions for diluted income (loss) per share		20,029,123		19,561,245		19,580,046		19,471,794
Shares related to dilutive securities excluded because inclusion would be anti-dilutive		374,833		564,833		714,821		564,833