Earnings Per Share

3 Months Ended

Mar. 31, 2016

The following table reconciles the numerator and denominator used to calculate diluted earnings per share for the three months ended March 31, 2016 and 2015:



	Three months ended March 31,
	2016			2015
Numerator:
Net income (loss) attributable to common shareholders	$	(253,111	)	$	46,281
Denominator:
Weighted-average shares outstanding – basic	16,341,481			17,012,852
Dilutive effect of other securities	—			392,167
Weighted-average shares outstanding – diluted	16,341,481			17,405,019

As of March 31, 2016 and 2015, restricted stock awards and options to purchase 257,308 and 256,594 shares of common stock, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect would be antidilutive.