Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

9 Months Ended

Sep. 30, 2017

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 due to net loss.

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


	Three Months Ended				Nine Months Ended
	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016

Weighted average shares outstanding - basic		30,017		30,063		30,015		30,525
Effect of dilutive stock awards		-		-		-		-
Weighted average shares outstanding - diluted		30,017		30,063		30,015		30,525

Net loss per share:
Basic	$	(0.05)	$	(0.01)	$	(0.22)	$	(0.25)
Diluted		(0.05)		(0.01)		(0.22)		(0.25)

For the three months ended September 30, 2017 and 2016, equity awards of 2,835 and 2,517, respectively, and for the nine months ended September 30, 2017 and 2016, equity awards of 2,793 and 2,491, respectively, were outstanding and anti-dilutive and therefore not included in the calculation of loss per share for these periods.