Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2016

Earnings (Loss) Per Share [Abstract]

(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	2016	2015
Basic weighted-average Common Shares outstanding	27,675,938	27,145,873
Effect of dilutive shares	479,835	746,806
Diluted weighted-average Common Shares outstanding	28,155,773	27,892,679

Performance-based restricted Common Shares outstanding at March 31, 2016 and March 31, 2015 were 0 and 234,450, respectively. There were also 803,100 and 710,235 performance-based right to receive Common Shares outstanding at March 31, 2016 and 2015, 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.