Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.3.1.900
Earnings Per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
 
2015
 
2014
 
2013
Numerator:
 
 
 
 
 
Net (loss) income from continuing operations
$
(10,269,278
)
 
$
12,618,787

 
$
2,898,048

Net (loss) income from discontinued operations, net of tax
$
(1,251,058
)
 
$
(7,156,524
)
 
$
(1,137,484
)
Denominator:
 

 
 

 
 

Denominator for basic earnings per share - weighted average shares
8,710,361

 
8,702,094

 
6,941,794

Effect of dilutive securities:
 

 
 

 
 

Employee stock options and stock grants
—

 
13,008

 
5,610

Denominator for diluted earnings per share - weighted average shares
8,710,361

 
8,715,102

 
6,947,404

 
 
 
 
 
 
Net (loss) earnings per share from continuing operations:
 

 
 

 
 

Basic
$
(1.18
)
 
$
1.45

 
$
0.42

Diluted
$
(1.18
)
 
$
1.45

 
$
0.42

 
 
 
 
 
 
Net loss per share from discontinued operations:
 
 
 
 
 
Basic
$
(0.14
)
 
$
(0.82
)
 
$
(0.16
)
Diluted
$
(0.14
)
 
$
(0.82
)
 
$
(0.16
)

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 229,025 in 2015, 46,957 in 2014 and 161,084 in 2013, which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.