9.	Net Income (Loss) per Common Share

Basic earnings per share is calculated by dividing the net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using the weighted average number of common shares outstanding plus dilutive common stock equivalents outstanding as determined by the treasury method during the period. In periods when we have a net loss, common stock equivalents are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect. For the

three

and

six

month periods ended

June 30, 2019

and

2018,

we excluded a nominal amount of unvested stock awards from our calculation of diluted weighted average shares because they were antidilutive.

The following table shows the calculation of basic and diluted earnings per shares:

	Three Month Period Ended				Six Month Period Ended
	June 30,				June 30,
(In thousands, except per share and share data)	2019		2018		2019		2018
Numerator:
Net income attributable to common stockholders	$	838	$	1,046	$	1,265	$	943

Denominator:
Weighted average basic shares outstanding		18,819,459		15,180,169		18,734,401		14,642,378
Effect of dilutive securities		5,719,840		5,194,189		5,705,558		4,421,217
Weighted average diluted shares		24,539,299		20,374,358		24,439,959		19,063,595

Basic earnings per share	$	0.04	$	0.07	$	0.07	$	0.06
Diluted earnings per share	$	0.03	$	0.05	$	0.05	$	0.05