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Note 21 - Income (Loss) Per Common Share
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Earnings Per Share [Text Block]
(
21
)
Income (Loss)
Per Common Share
 
The Company computes earnings per share using the
two
-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.
 
Our potentially dilutive securities include potential common shares related to our stock options and restricted stock. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted earnings per share excludes the impact of common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. There were
992,000
common shares excluded from diluted earnings per share for the year ended
December
 
31,
 
2016
and all potential common shares were excluded from diluted earnings per share for the year ended
December
 
31,
 
2015
because the effect of inclusion would be anti-dilutive.
 
A reconciliation of the weighted average shares outstanding used in the calculation of basic and diluted loss per common share is as follows (in thousands):
 
 
 
Year ended December 31,
 
 
 
2016
 
 
2015
 
Income (loss) attributable to stockholders:
                
Net income (loss) as reported
   $
6,043
     $
(27,216
 )
Less distributed and undistributed earnings allocable to restricted award holders
    
(184
 )    
0
  
Net income (loss) allocable to common stockholders
   $
5,859
     $
(27,216
 )
Income (loss) per common share attributable to stockholders:
                
Basic
   $
0.30
     $
(1.38
 )
Diluted
   $
0.30
     $
(1.38
 )
Weighted average shares outstanding – basic
    
19,861
      
19,688
  
Weighted average additional shares assuming conversion of potential common shares
    
0
      
0
  
Weighted average shares outstanding – diluted
    
19,861
      
19,688