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Earnings (Loss) from Continuing Operations Per Common Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) from Continuing Operations Per Common Share

 

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Earnings (Loss) from Continuing Operations 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, 2014 and 2013. 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,

 

 

 

2014

 

 

 

2013

 

Net income (loss)**

$

(2,399)

 

 

$

4,918

 

Weighted average basic shares

 

8,182,034

 

 

 

7,990,690

 

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

 

0

 

 

 

1,481,816

 

Total weighted average diluted shares with assumed conversions

 

8,182,034

 

 

 

9,472,506

 

Earnings loss from continuing operations per common share:

 

 

 

 

 

 

 

Basic

$

$(0.29)

 

 

$

0.62

 

Dilutive

$

$(0.29)

 

 

$

0.56

 

*No units or shares are considered when losses cause the effect to be anti-dilutive.

**Net income (loss) represents net income (loss) from continuing operations less the dividends on redeemable convertible preferred stock.