Stockholders’ Equity and Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2016

Stockholders' Equity and Earnings (Loss) per Share

Stockholders’ Equity and Earnings (Loss) per Share

As of March 31, 2016, we had a total of 24,403,659 shares of common stock, $0.01 par value outstanding, including 388,265 shares of restricted stock. We also had 136,278 shares held as treasury stock. Total authorized common stock is 100,000,000 shares.

Basic earnings (loss) per common share (“EPS”) is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. A reconciliation of the numerators and denominators of the basic and diluted (loss) earnings per share computations is as follows:



(in thousands, except per share data)	Three Months Ended March 31,
	2016			2015
Net (loss) income (numerator):	$	(414	)	$	1,375
Net (loss) earnings per share:
Basic and diluted	$	(0.02	)	$	0.06
Shares (denominator):
Weighted-average number of shares outstanding - basic	24,015			24,629
Net effect of dilutive stock options, warrants and restricted stock units	—			—
Weighted-average number of shares outstanding - diluted	24,015			24,629

For all years presented, the computation of diluted loss per share excludes the effect of certain outstanding stock options because their inclusion would be anti-dilutive. The number of options that were excluded from diluted loss per share were 963,196 during three months ended March 31, 2016 and 2015. Restricted stock units, which are not participating securities and are excluded from our basic and diluted earnings (loss) per share because they are anti-dilutive, were 1,277,583 and 507,684 for the three months ended March 31, 2016 and 2015, respectively.