Three months ended September 30,

Nine months ended September 30,

2017

2016

2017

2016

Numerator:

Net income (loss)

$

(9,276

)

$

1,209

$

(10,564

)

$

3,532

Denominator:

Basic weighted average shares outstanding

8,520,041

8,921,480

8,641,173

9,076,305

Dilutive common stock equivalents using treasury stock method

—

242,686

—

376,312

Diluted weighted average shares outstanding

8,520,041

9,164,165

8,641,173

9,452,616

Basic earnings (loss) per common share

$

(1.09

)

$

0.14

$

(1.22

)

$

0.39

Diluted earnings (loss) per common share

$

(1.09

)

$

0.13

$

(1.22

)

$

0.37

Weighted average options outstanding

782,012

832,766

832,953

900,687

Anti-dilutive options not included in the computations

782,012

312,372

832,953

312,477