Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 2016

Net Income (Loss) per Common Share

Basic net income (loss) per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net loss 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. For the three months ended September 30, 2015, and the nine months ended September 30, 2016 and 2015, due to the net loss in each of those periods, 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 of 919 shares of common stock for the three months ended September 30, 2016 have been excluded from the fully diluted calculation of net income per share.

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,
	2016	2015	2016	2015
Weighted average common shares outstanding—basic	15,845	15,661	15,798	15,608
Dilutive common shares issuable in connection with stock plans	70	—	—	—
Weighted average common shares outstanding—diluted	15,915	15,661	15,798	15,608