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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2015
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share

(8) Earnings (Loss) Per Share

 

Basic earnings (loss) per share was computed by dividing net income (loss) 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) by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented.  

 

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

 

 

 

 

 

 

 

 

 

Three months ended March 31

 
2015 

 
2014 

Basic weighted-average Common Shares outstanding

 
27,145,873 

 
26,854,017 

Effect of dilutive shares

 
746,806 

 
554,764 

Diluted weighted-average Common Shares outstanding

 
27,892,679 

 
27,408,781 

 

There were no options outstanding at March 31, 2015 or December 31, 2014.

 

There were 234,450 and 466,650 performance-based restricted Common Shares outstanding at March 31, 2015 and 2014, respectively. There were also 710,235 and 374,400 performance-based right to receive Common Shares outstanding at March 31, 2015 and 2014, respectively. These performance-based restricted and right to receive Common Shares are included in the computation of diluted earnings per share based on the number of Common Shares that would be issuable if the end of the quarter were the end of the contingency period.