Earnings (Loss) Per Share

9 Months Ended

Sep. 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. However, for all periods in which the Company recognized a loss from continuing operations, the Company did not recognize the effect of potentially dilutive securities as their inclusion would have been anti-dilutive.

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


	Three months ended		Nine months ended
	September 30,		September 30,
	2015	2014	2015	2014
Basic weighted-average Common Shares outstanding	27,444,221	26,953,596	27,299,319	26,913,880
Effect of dilutive shares	563,988	600,543	627,723	-
Diluted weighted-average Common Shares outstanding	28,008,209	27,554,139	27,927,042	26,913,880

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

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