7. Calculation of Basic and Diluted Earnings per Share

12 Months Ended

Dec. 31, 2017

(Loss) Income per common share:

Calculation of Basic and Diluted Earnings per Share

(in thousands, except per share amounts)	Years Ended December 31,
	2017			2016
Numerator:
Net (Loss) Income	$	(1,136	)	$	444
Denominator:
Denominator for basic (loss) earnings per share - weighted-average shares		3,542			3,376
Dilutive potential common shares		–			78
Denominator for diluted (loss) earnings per share - weighted-average shares and assumed conversions		3,542			3,454
Basic and diluted (loss) earnings per common share	$	(0.32	)	$	0.13

Approximately 133,000 and 130,000 employee stock options were excluded from calculation of diluted earnings per share for the years ended December 31, 2017 and 2016, respectively, as the effect would be anti-dilutive.