Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2015

Earnings (Loss) Per Share [Abstract]

(9) 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		Six months ended
	June 30,		June 30,
	2015	2014	2015	2014
Basic weighted-average Common Shares outstanding	27,307,864	26,934,027	27,226,868	26,894,022
Effect of dilutive shares	637,060	-	635,703	-
Diluted weighted-average Common Shares outstanding	27,944,924	26,934,027	27,862,571	26,894,022

There were no options outstanding at June 30, 2015 or December 31, 2014.

There were 134,250 and 466,650 performance-based restricted Common Shares outstanding at June 30, 2015 and 2014, respectively. There were also 573,885 and 374,400 performance-based right to receive Common Shares outstanding at June 30, 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.