(Loss) Income Per Common Share

9 Months Ended

Sep. 30, 2019

(Loss) Income Per Common Share [Abstract]

(Loss) Income Per Common Share

13. (Loss) Income Per Common Share 

The following table sets forth the computation of basic and diluted (loss) income per common share (in thousands, except per share data): 

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Basic (loss) income per common share	2019		2018		2019		2018
Net (loss) income	$	(134)	$	1,565	$	2,401	$	(2,064)
Net loss (income) allocated to participating securities		1		(15)		(17)		20
Net (loss) income allocated to common shareholders	$	(133)	$	1,550	$	2,384	$	(2,044)
Basic weighted-average common shares outstanding		37,255		36,526		37,065		36,331
Basic (loss) income per common share	$	0.00	$	0.04	$	0.06	$	(0.06)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Diluted (loss) income per common share	2019		2018		2019		2018
Net (loss) income	$	(134)	$	1,565	$	2,401	$	(2,064)
Net loss (income) allocated to participating securities		1		(14)		(16)		20
Net (loss) income allocated to common shareholders	$	(133)	$	1,551	$	2,385	$	(2,044)
Basic weighted-average common shares outstanding		37,255		36,526		37,065		36,331
Effect of dilutive stock options and awards		--		1,084		785		--
Diluted weighted-average common shares outstanding		37,255		37,610		37,850		36,331
Diluted (loss) income per common share	$	0.00	$	0.04	$	0.06	$	(0.06)

We excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares because the inclusion of these stock options would be antidilutive to loss per common share.

For the three months ended September 30, 2019 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss. For the nine months ended September 30, 2019 stock options to purchase a weighted-average of 123,000 shares were antidilutive and excluded from the calculation of diluted weighted-average common shares outstanding.

For the three months ended September 30, 2018 none of the stock options to purchase shares were antidilutive; therefore, no shares were excluded from the calculation of diluted weighted-average common shares outstanding.  For the nine months ended September 30, 2018 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss.