Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

6 Months Ended

Jun. 30, 2016

NOTE 11. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing earnings (loss) by the weighted average number of common shares outstanding during each period. Diluted earnings (loss) per share is computed by dividing earnings (loss) by the total of the weighted average number of shares of common stock outstanding during each period, plus the effect of dilutive outstanding stock options and unvested restricted stock grants. Potentially dilutive securities are excluded from the computation of diluted earnings per share if their effect is anti-dilutive to loss from continuing operations.

The following table is a reconciliation of basic and diluted shares of common stock outstanding used in the calculation of earnings per share:


	Three Months Ended				Six Months Ended
	June 30, 2016		June 30, 2015		June 30, 2016		June 30, 2015

Weighted average shares outstanding – basic		30,617		32,723		30,758		32,714
Effect of dilutive stock awards		-		-		-		-
Weighted average shares outstanding – diluted		30,617		32,723		30,758		32,714

Loss from continuing operations per share:
Basic	$	(0.10)	$	(0.12)	$	(0.23)	$	(0.17)
Diluted		(0.10)		(0.12)		(0.23)		(0.17)

Loss from discontinued operations per share:
Basic	$	-	$	(0.05)	$	-	$	(0.05)
Diluted		-		(0.05)		-		(0.05)

Net loss per share:
Basic	$	(0.10)	$	(0.17)	$	(0.23)	$	(0.22)
Diluted		(0.10)		(0.17)		(0.23)		(0.22)

For the three months ended June 30, 2016 and 2015, equity awards of 2,364 and 3,323, respectively, and for the six months ended June 30, 2016 and 2015, equity awards of 2,378 and 3,365, respectively, were outstanding and anti-dilutive and therefore not included in the calculation of loss per share for these periods.