13. Income (Loss) Per Common Share

The following table sets forth the computation of basic and diluted income (loss) per common share (in thousands, except per share data):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Basic income (loss) per common share	2018		2017		2018		2017
Net income (loss)	$	1,565	$	1,325	$	(2,064)	$	6,711
Net (income) loss allocated to participating securities		(15)		(22)		20		(126)
Net income (loss) allocated to common shareholders	$	1,550	$	1,303	$	(2,044)	$	6,585

Basic weighted-average common shares outstanding		36,526		32,887		36,331		32,665
Basic income (loss) per common share	$	0.04	$	0.04	$	(0.06)	$	0.20

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Diluted income (loss) per common share	2018		2017		2018		2017
Net income (loss)	$	1,565	$	1,325	$	(2,064)	$	6,711
Net (income) loss allocated to participating securities		(14)		(22)		20		(122)
Net income (loss) allocated to common shareholders	$	1,551	$	1,303	$	(2,044)	$	6,589

Basic weighted-average common shares outstanding		36,526		32,887		36,331		32,665
Effect of dilutive stock options and awards		1,084		1,170		--		1,186
Diluted weighted-average common shares outstanding		37,610		34,057		36,331		33,851
Diluted income (loss) per common share	$	0.04	$	0.04	$	(0.06)	$	0.19

We excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares because the inclusion of these stock options would be antidilutive to income (loss) per common share. For the three months ended September 30, 2018 none of the stock options to purchase shares were antidilutive; therefore, no shares were excluded from the calculation of diluted weighted-average common shares outstanding. For the nine months ended September 30, 2018 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss. For the three and nine months ended September 30, 2017 stock options to purchase a weighted-average 264,000 shares and 215,000 shares, respectively, were antidilutive and excluded from the calculation of diluted weighted-average common shares outstanding.