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Income Per Common Share
 6 Months Ended
Jun. 30, 2015
Income Per Common Share [Abstract]  
Income Per Common Share

15.  Income Per Common Share 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

Basic (loss) income per common share

2015

 

2014

 

2015

 

2014

Net (loss) income

$
(502)

 

$
2,161 

 

$
(776)

 

$
3,220 

Net loss (income) allocated to participating securities

 
11 

 

 
(38)

 

 
19 

 

 
(60)

Net (loss) income allocated to common shareholders

$
(491)

 

$
2,123 

 

$
(757)

 

$
3,160 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average common shares outstanding

 
27,713 

 

 
27,502 

 

 
27,619 

 

 
27,439 

Basic (loss) income per common share

$
(0.02)

 

$
0.08 

 

$
(0.03)

 

$
0.12 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

Diluted (loss) income per common share

2015

 

2014

 

2015

 

2014

Net (loss) income

$
(502)

 

$
2,161 

 

$
(776)

 

$
3,220 

Net loss (income) allocated to participating securities

 
11 

 

 
(37)

 

 
19 

 

 
(59)

Net (loss) income allocated to common shareholders

$
(491)

 

$
2,124 

 

$
(757)

 

$
3,161 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average common shares outstanding

 
27,713 

 

 
27,502 

 

 
27,619 

 

 
27,439 

Effect of dilutive stock options and awardsa

 

--

 

 
815 

 

 

--

 

 
943 

Diluted weighted-average common shares outstanding

 
27,713 

 

 
28,317 

 

 
27,619 

 

 
28,382 

Diluted (loss) income per common share

$
(0.02)

 

$
0.08 

 

$
(0.03)

 

$
0.11 

___________________  

aThe Company 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 income (loss) per common share.  Accordingly, stock options to purchase a weighted-average 389,000 and 309,000 shares for the three and six months ended June 30, 2015, respectively, and 485,000 and 182,000 shares for the three and six months ended June 30, 2014, respectively, were excluded from the calculation of diluted weighted-average common shares outstanding.