EARNINGS/(LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 16. EARNINGS/(LOSS) PER COMMON SHARE

Basic earnings/(loss) per common share is calculated by dividing net income/(loss) available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per common share is calculated by dividing net income/(loss) available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards and the warrant). There is no dilutive effect on the loss per share during loss periods. The following table provides information relating to the calculation of earnings/(loss) per common share.

(In thousands, except per share data)	2014		2013		2012
Net income (loss)	$	5,051	$	(9,634)	$	(9,638)
Weighted average shares outstanding – basic		10,945		8,461		8,457
Dilutive effect of common stock equivalents		8		-		-
Weighted average shares outstanding – diluted		10,953		8,461		8,457
Income (loss) per common share – basic	$	0.46	$	(1.14)	$	(1.14)
Income (loss) per common share – diluted	$	0.46	$	(1.14)	$	(1.14)

The calculations of diluted income (loss) per share excluded weighted average common stock equivalents of $0 for 2014, $51 thousand for 2013, and $46 thousand for 2012 because the effect of including them would have been antidilutive.