Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 2015

Net (Loss) Income per Common Share

Basic net (loss) income per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net (loss) income per share incorporates the dilutive effect of common stock equivalent options, warrants and other convertible securities, if any, as determined with the treasury stock accounting method. The Company incurred losses in the three months ended September 30, 2015 and the nine months ended September 30, 2015 and 2014; accordingly, the Company excluded all outstanding stock options and non-vested restricted shares from its diluted loss per share calculation, as inclusion of these securities would have reduced the net loss per share. Common stock equivalents related to options and restricted stock awards for 575 shares of common stock have been excluded from the fully diluted calculation of net income per share for the three months ended September 30, 2014, as inclusion would be anti-dilutive.

A reconciliation of the basic and diluted weighted average common shares outstanding is as follows:



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2015	2014	2015	2014
Weighted average common shares outstanding—basic	15,661	15,456	15,608	15,396
Dilutive common shares issuable in connection with stock plans	—	130	—	—
Weighted average common shares outstanding—diluted	15,661	15,586	15,608	15,396