Earnings Per Common Share

3 Months Ended

Mar. 31, 2016

Earnings Per Common Share [Abstract]

Earnings Per Common Share

(3)  Earnings per Common Share

We report basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share which include the effect of all potentially dilutive securities unless their impact is anti-dilutive. The following are reconciliations of the numerators and denominators of our basic and diluted earnings per share, (in thousands except for share and per share amounts):

	For the Three Months Ended
	March 31,
	2016		2015
Income (numerator):
Net loss	$	(1,404)	$	(515)
Weighted average shares (denominator):
Weighted average shares – basic		6,084,241		6,084,241
Dilution effect of share-based compensation, treasury method		—		—
Weighted average shares – dilutive		6,084,241		6,084,241
Loss per share – Basic and Dilutive:
Basic	$	(0.23)	$	(0.08)
Dilutive	$	(0.23)	$	(0.08)

Share and per share data at March 31, 2015 has been adjusted to reflect the impact of the 1 for 10 reverse stock split approved at the shareholder meeting on March 21, 2016, effective with trading on March 24, 2016.  The total number of shares issued and outstanding represent estimates after adjustments to reflect the impact of the reverse stock split.  Although the number of shares are subject to changes based on true up of actual shares issued as a result of the reverse stock split, the Company expects the change in number of shares will not be material.