Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2015

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

NOTE 9: EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net income (loss) applicable to common stock by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) applicable to common stock by the weighted average number of shares of common stock adjusted to include the effect of potentially dilutive securities. Potentially dilutive securities include incremental shares issuable upon exercise of outstanding stock options and shares of unvested restricted stock. Diluted earnings (loss) per share exclude all dilutive securities if their effect is anti-dilutive.

The Company's restricted stock awards are considered "participating securities" because they contain non-forfeitable rights to dividends. Under the two-class method, earnings per share ("EPS") is computed by dividing earnings allocated to common shareholders by the weighted-average number of common shares outstanding for the period. In applying the two-class method, earnings are allocated to both shares of common stock and participating securities based on their respective weighted-average shares outstanding for the period.

For the three months ended March 31, 2015 and 2014, the Company experienced a net loss. As a result, the effect of participating securities was excluded from the computation of basic and diluted EPS. The net losses were not allocated because the restricted stockholders are not required to fund losses.

The weighted average number of shares of common stock used in basic and diluted earnings per share for the three months ended March 31, 2015 and 2014 was as follows:

		For the three months ended March 31,
(amounts in thousands, except for per share)		2015			2014
NUMERATOR:
Net loss applicable to common stock before participating securities	$	(200	)	$	(255	)
Less: income applicable to participating securities (1)		-			-
Net loss applicable to common stock	$	(200	)	$	(255	)
DENOMINATOR:
Weighted average shares outstanding - Basic and Diluted (2)		5,829			6,161
EPS:
Net loss per share - Basic and Diluted	$	(0.03	)	$	(0.04	)

(1)	For the three months ended March 31, 2015 and 2014, the Company had 0.1 million and 0.4 million, respectively in nonvested participating securities. As the participating securities do not participate in losses, there was no allocation of loss for the three months ended March 31, 2015 or March 31, 2014.
(2)	For the three months ended March 31, 2015 and 2014, potentially dilutive shares related to out of the money common stock options that were excluded from EPS, as their effect was anti-dilutive, were nominal.