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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2014
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share

(9) Earnings (Loss) Per Share

 

Basic earnings (loss) per share was computed by dividing net income by the weighted-average number of Common Shares outstanding for each respective period. Diluted earnings (loss) per share was calculated by dividing net income (loss) attributable to Stoneridge, Inc. by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented.  However, for all periods in which the Company recognized a net loss from continuing operations, the Company did not recognize the effect of the potential dilutive securities as their inclusion would be anti-dilutive.

 

Weighted-average Common Shares outstanding used in calculating basic and diluted net income (loss) per share were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

 

September 30,

 

September 30,

 

 
2014 

 
2013 

 
2014 

 
2013 

Basic weighted-average Common Shares outstanding

 
26,953,596 

 
26,691,996 

 
26,913,880 

 
26,663,335 

Effect of dilutive shares

 
600,543 

 
484,788 

 

 -

 
572,468 

Diluted weighted-average Common Shares outstanding

 
27,554,139 

 
27,176,784 

 
26,913,880 

 
27,235,803 

 

There were no outstanding options at September 30, 2014. At September 30, 2013, options not included in the computation of diluted earnings per share to purchase 20,000 Common Shares at an average price of $15.73 per share were outstanding. These outstanding options were not included in the computation of diluted earnings per share because their respective exercise prices were greater than the average closing market price of Company Common Shares and the effect would be anti-dilutive. 

 

There were 466,650 and 663,750 performance-based restricted Common Shares outstanding at September 30, 2014 and 2013, respectively. There were also 374,400 performance-based right to receive Common Shares outstanding at September 30, 2014. These restricted and right to receive Common Shares were not included in the computation of diluted earnings per share because all vesting conditions have not been achieved as of September 30, 2014 and 2013.  These shares may become dilutive based on the Company’s ability to meet or exceed future performance targets.