Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2019

Income (Loss) Per Common Share [Abstract]

Income (Loss) Per Common Share

16. Income (Loss) 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):

Basic income (loss) per common share	2019		2018		2017
Net income (loss)	$	1,720	$	(2,840)	$	3,704
Net (income) loss allocated to participating securities		(12)		27		(63)
Net income (loss) allocated to common shareholders	$	1,708	$	(2,813)	$	3,641
Basic weighted-average common shares outstanding		37,118		36,412		33,008
Basic income (loss) per common share	$	0.05	$	(0.08)	$	0.11
Diluted income (loss) per common share	2019		2018		2017
Net income (loss)	$	1,720	$	(2,840)	$	3,704
Net (income) loss allocated to participating securities		(12)		27		(61)
Net income (loss) allocated to common shareholders	$	1,708	$	(2,813)	$	3,643
Basic weighted-average common shares outstanding		37,118		36,412		33,008
Effect of dilutive options and awardsa		742		-		1,155
Diluted weighted-average common shares outstanding		37,860		36,412		34,163
Diluted income (loss) per common share	$	0.05	$	(0.08)	$	0.11

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^a    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) income per common share. For the year ended December 31, 2018 all stock options and awards were excluded from the calculation of weighted-average common shares outstanding as these would be antidilutive to the net loss. For the years ended December 31, 2019 and 2017 stock options to purchase 131,000 and 227,000 shares, respectively, were excluded from the calculation of diluted weighted-average common shares outstanding.