Net Income (Loss) per Common Share

6 Months Ended

Jun. 30, 2017

8. Net Income (Loss) per Common Share

Net income (loss) per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2017		2016		2017		2016
Weighted average common shares outstanding basic		30,154,965		29,623,177		30,097,638		29,586,708
Dilutive effect of stock options and restricted stock		317,671		466,397		297,779		426,131
Weighted average common shares outstanding diluted		30,472,636		30,089,574		30,395,417		30,012,839

Options to purchase 281,700 shares of common stock that were outstanding for the three and six months ended June 30, 2017, and 648,084 and 780,751 for the three and six months ended June 30, 2016, respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive.