Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.6.0.2
Earnings Per Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
 
2016
 
2015
 
2014
Numerator:
 
 
 
 
 
Net (loss) income from continuing operations
$
(6,993,967
)
 
$
(10,269,278
)
 
$
12,618,787

Net loss from discontinued operations, net of tax
$
(99,334
)
 
$
(1,251,058
)
 
$
(7,156,524
)
Denominator:
 

 
 

 
 

Denominator for basic earnings per share - weighted average shares
8,649,745

 
8,710,361

 
8,702,094

Effect of dilutive securities:
 

 
 

 
 

Employee stock options and stock grants
—

 
—

 
13,008

Denominator for diluted earnings per share - weighted average shares
8,649,745

 
8,710,361

 
8,715,102

 
 
 
 
 
 
Net (loss) earnings per share from continuing operations:
 

 
 

 
 

Basic
$
(0.81
)
 
$
(1.18
)
 
$
1.45

Diluted
$
(0.81
)
 
$
(1.18
)
 
$
1.45

 
 
 
 
 
 
Net loss per share from discontinued operations:
 
 
 
 
 
Basic
$
(0.01
)
 
$
(0.14
)
 
$
(0.82
)
Diluted
$
(0.01
)
 
$
(0.14
)
 
$
(0.82
)

The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had weighted average shares of common stock of 295,287 in 2016, 229,025 in 2015 and 46,957 in 2014, which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.