NOTE I — 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 during the relevant period. 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 months ended September 30, 2018 and 2017 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018			2017
	(in thousands, except per share amounts)
Net income (loss) – basic and diluted	$	5,948	$	4,330	$	(11,707	)	$	903
Weighted-average shares outstanding – basic		20,357		14,572		19,123			14,422
Effect of dilutive securities:
Stock options and other stock awards		124		471		—			478

Weighted-average shares outstanding – basic and diluted		20,481		15,043		19,123			14,900

Basic income (loss) per common share	$	0.29	$	0.30	$	(0.61)		$	0.06

Diluted income (loss) per common share	$	0.29	$	0.29	$	(0.61)		$	0.06

The computation of diluted income (loss) per common share for the three and nine months ended September 30, 2018 excludes 1,361,494 shares and 1,745,914 shares, respectively, related to options to purchase shares and other stock awards. The computation of diluted income per common share for the three and nine months ended September 30, 2017 excludes 390,950 shares and 1,461,698 shares, respectively, related to options to purchase shares and other stock awards. These shares were excluded due to their antidilutive effects.