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Earnings (Loss) Per Common Share
 12 Months Ended
Dec. 31, 2013
Earnings (Loss) Per Common Share

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Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is based on the weighted average number of common shares outstanding for the year ended December 31, 2013 and 2012. Diluted earnings (loss) per common share is based on the weighted average number of common shares outstanding, plus the incremental shares that would have been outstanding upon the assumed exercise of all potentially dilutive stock options and other units subject to anti-dilution limitations.

The following table sets forth the computation of basic and diluted earnings (loss) per common share (in thousands, except share and per share data):

 

 

Year Ended December 31,

 

 

 

2013

 

 

 

2012

 

Net income (loss)

$

4,209

 

 

$

2,084

 

Weighted average basic shares

 

7,990,690

 

 

 

7,901,225

 

Dilutive effect of stock options, restricted stock units, preferred stock and warrants

 

1,481,816

 

 

 

357,517

 

Total weighted average diluted shares with assumed conversions

 

9,472,506

 

 

 

8,258,742

 

Earnings loss per common share:

 

 

 

 

 

 

 

Basic

$

0.53

 

 

$

0.26

 

Dilutive

$

0.48

 

 

$

0.25