Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2016

The following table reconciles the numerator and denominator used to calculate diluted earnings per share for the three and nine months ended September 30, 2016 and 2015:



	Three months ended September 30,
	2016			2015
Numerator:
Net income attributable to common shareholders	$	106,166		$	126,613
Denominator:
Weighted-average shares outstanding – basic	16,217,442			16,604,682
Dilutive effect of other securities	287,126			391,694
Weighted-average shares outstanding – diluted	16,504,568			16,996,376

	Nine months ended September 30,
	2016			2015
Numerator:
Net income (loss) attributable to common shareholders	$	(194,989	)	$	580,292
Denominator:
Weighted-average shares outstanding – basic	16,268,579			16,811,360
Dilutive effect of other securities	—			382,494
Weighted-average shares outstanding – diluted	16,268,579			17,193,854

As of September 30, 2016 and 2015, restricted stock awards and options to purchase 21,950 and 54,798 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.