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Earnings Per Common Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

(5)  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

 

For the Nine Months Ended



 

September 30,

 

September 30,



 

2017

 

2016

 

2017

 

2016

Income (numerator):

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

 (315)

 

$

 (908)

 

$

 (706)

 

$

 (3,939)

Weighted average shares (denominator):

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares – basic

 

 

 10,614,402 

 

 

 6,093,579 

 

 

 9,899,696 

 

 

 6,088,834 

Dilution effect of share-based compensation, treasury method

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Weighted average shares – dilutive

 

 

 10,614,402 

 

 

 6,093,579 

 

 

 9,899,696 

 

 

 6,088,834 

Loss per share – Basic and Dilutive:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

 (0.03)

 

$

 (0.15)

 

$

 (0.07)

 

$

 (0.65)

Dilutive

 

$

 (0.03)

 

$

 (0.15)

 

$

 (0.07)

 

$

 (0.65)





For the nine months ended September 30, 2016, 152 shares were excluded from dilutive shares as they would have been anti-dilutive.  The 152 shares excluded from the dilutive share calculation represents shares calculated using the treasury method for options issued to the Company’s directors in which the exercise price was lower than the average market price each quarter.  In addition, options issued to the Company’s directors in which the exercise price was higher than the average market price each quarter was also excluded from diluted shares as they would have been anti-dilutive.