Loss Per Common Share

6 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Loss Per Common Share

10. Loss Per Common Share

The Company applies the two-class method in calculating per share data.  The following table summarizes the calculation of net loss and weighted average common shares and common equivalent shares outstanding for purposes of the computation of loss per share (in thousands, except share and per share data):

	Three Months Ended						Six Months Ended
	March 31, 2016			March 31, 2015			March 31, 2016			March 31, 2015
Net loss	$	(10,965	)	$	(5,182	)	$	(22,007	)	$	(10,627	)
Less: Income allocable to unvested restricted stock		—			—			—			—
Loss available to common shareholders		(10,965	)		(5,182	)		(22,007	)		(10,627	)
Reallocation of participating earnings		—			—			—			—
Loss attributable to common shareholders for diluted earnings per share	$	(10,965	)	$	(5,182	)	$	(22,007	)	$	(10,627	)
Weighted average number of common share equivalents:
Common shares used in basic loss per share		13,049,696			13,002,616			13,037,069			12,990,129
Common share equivalents outstanding related to stock options		—			—			—			—
Total weighted average common shares and common share equivalents used in diluted loss per share		13,049,696			13,002,616			13,037,069			12,990,129
Loss per share:
Basic	$	(0.84	)	$	(0.40	)	$	(1.69	)	$	(0.82	)
Diluted	$	(0.84	)	$	(0.40	)	$	(1.69	)	$	(0.82	)

For the calculation of diluted loss per share for the three and six months ended March 31, 2016 and 2015, 159,000 stock options and 89,700 stock options, respectively, were excluded in the calculation of weighted average shares outstanding as a result of their impact being antidilutive.