Net Income Per Common Share

3 Months Ended

Mar. 31, 2015

Net Income (Loss) Per Common Share

Net Income Per Common Share

10. Net Income per Common Share

Basic net income per share is computed by dividing net income by the weighted daily average number of shares of common stock outstanding during the period. Diluted net income per share is based upon the weighted daily average number of shares of common stock outstanding for the period plus dilutive potential common shares, including stock options and restricted stock units using the treasury-stock method.

A reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding is as follows (unaudited):

		Three Months Ended
		March 31, 2015			March 31, 2014
Weighted average common basic shares outstanding		22,127,725			21,977,836
Effect of dilutive stock options and restricted stock units		400,884			374,009
Weighted average common diluted shares outstanding		22,528,609			22,351,845
Net income (loss) per share
Basic	$	0.06		$	0.20
Diluted	$		0.06	$		0.19

For the three months ended March 31, 2015 performance-based restricted stock was excluded in the computation of weighted average diluted common share outstanding because the number of shares ultimately issuable is contingent upon the Company’s attainment of performance goals for the period beginning January 1, 2014 through December 31, 2016. There was no performance-based incentive program in place during the three months ended March 31, 2014.

There are no additional securities that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share, other than those disclosed.