Net (loss) Income Per Common Share

3 Months Ended

Mar. 31, 2020

Note 2: Net (loss) income per Common Share

The following table sets forth the computation of basic and diluted net income per common share:

	Three months ended
	March 31,
(dollars in thousands, except per share amounts)	2020			2019

Numerator:
Net (loss) income	$	(1,411	)	$	1,222

Denominator:
Weighted average number of shares of common stock outstanding		8,801,337			8,761,538
Weighted average effect of dilutive share-based compensation		-			98,987
Diluted weighted average number of shares of common stock outstanding		8,801,337			8,860,525

Net (loss) income per common share:
Net (loss) income per common share - Basic	$	(0.16	)	$	0.14
Net (loss) income per common share - Diluted	$	(0.16	)	$	0.14

We had options to purchase 741,550 and 641,500 shares of common stock outstanding at a weighted average price of $24.27 and $26.35 for the three months ended March 31, 2020 and 2019, respectively, which were excluded in the computation of diluted net (loss) income per common share. These options were not included in the computation of diluted net (loss) income per common share because their exercise prices were greater than the average market price of our common stock. In addition, the calculation of diluted net (loss) per share for the three months ended March 31, 2020 excluded 19,650 shares for the assumed exercise of stock options as a result of being in a net loss position.