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INCOME (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2014
INCOME (LOSS) PER COMMON SHARE

NOTE G — INCOME (LOSS) PER COMMON SHARE

Basic income (loss) per common share has been computed by dividing net income (loss) by the weighted-average number of shares of the Company’s common stock outstanding. Diluted income (loss) per common share adjusts net income (loss) and basic income (loss) per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted income (loss) per common share for the three and nine month periods ended September 30, 2014 and 2013 are as follows:

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2014     2013      2014     2013  
     (in thousands, except per share amounts)  

Net income (loss) – basic and diluted

    $ (1,586 )    $ 1,093         (7,717 )    $ (107 ) 

Weighted-average shares outstanding – basic

      13,619        12,707         13,460        12,758   

Effect of dilutive securities:

          

Stock options

      —          339         —          —     
  

 

 

    

 

 

     

 

 

    

 

 

  

Weighted-average shares outstanding – diluted

      13,619        13,046         13,460        12,758   
  

 

 

    

 

 

     

 

 

    

 

 

  

Basic income (loss) per common share

    $ (0.12 )    $ 0.09       $ (0.57 )    $ (0.01 ) 
  

 

 

    

 

 

     

 

 

    

 

 

  

Diluted income (loss) per common share

    $ (0.12 )    $ 0.08       $ (0.57 )    $ (0.01 ) 
  

 

 

    

 

 

     

 

 

    

 

 

  

The computation of diluted income (loss) per common share for the three months ended September 30, 2014 and 2013 excludes options to purchase 2,377,519 shares and options to purchase 336,500 shares, respectively. The computation of diluted loss per common share for the nine months ended September 30, 2014 and 2013 excludes options to purchase 2,443,481 shares and options to purchase 2,476,500 shares, respectively. These shares were excluded due to their antidilutive effects.