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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2014
Notes to Financial Statements  
NOTE 6. EARNINGS PER SHARE

We compute basic earnings per share (“basic EPS”) by dividing the net loss by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares outstanding (warrants and stock options). The following table provides the computation of basic and diluted earnings per share for the three and nine month periods ending September 30, 2014 and 2013.

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
(in thousands, except EPS)   2014     2013     2014     2013  
                         
Net loss attributable to common shareholders   $ (2,976 )   $ (341 )   $ (12,760 )   $ (1,870 )
                                 
Basic weighted average shares outstanding     17,780       17,678       17,727       17,666  
                                 
Effect of potential dilutive securities     -       -       -       -  
Diluted weighted average shares outstanding     17,780       17,678       17,727       17,666  
                                 
Basic EPS     (0.17 )     (0.02 )     (0.72 )     (0.11 )
                                 
Diluted EPS     (0.17 )     (0.02 )     (0.72 )     (0.11 )

 

For the nine months ended September 30, 2014, and 2013, options and warrants to purchase approximately 2,945,591 and 1,000,000 shares of common stock, respectively, were excluded from the computation of diluted earnings per share because their effect were anti-dilutive.