Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2017

The following table reconciles the numerator and denominator used to calculate diluted earnings (loss) per share for the three and nine months ended September 30, 2017 and 2016:



	Three months ended September 30,
	2017			2016
Numerator:
Net income (loss) attributable to common shareholders	$	(743,031	)	$	106,166
Denominator:
Weighted-average shares outstanding – basic	15,867,159			16,217,442
Dilutive effect of other securities	—			287,126
Weighted-average shares outstanding – diluted	15,867,159			16,504,568

	Nine months ended September 30,
	2017			2016
Numerator:
Net income (loss) attributable to common shareholders	$	(7,178,088	)	$	(194,989	)
Denominator:
Weighted-average shares outstanding – basic	15,973,737			16,268,579
Dilutive effect of other securities	—			—
Weighted-average shares outstanding – diluted	15,973,737			16,268,579

As of September 30, 2017 and 2016, restricted stock awards and options to purchase 14,175 and 21,950 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.