Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

v3.5.0.2
Net Income (Loss) Per Share
9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
3. Net Income (Loss) Per Share
 
Basic net income (loss) per share excludes the effect of dilution and is computed by dividing net income (loss) by the weighted-average number of shares outstanding for the period. Diluted net income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue shares were exercised into shares. In calculating diluted net income (loss) per share, the numerator is adjusted for the change in the fair value of the warrant liability (only if dilutive) and the denominator is increased to include the number of potentially dilutive common shares assumed to be outstanding during the period using the treasury stock method.
 
The following table sets forth the reconciliation of the numerator and denominator used in the computation of basic and diluted net income (loss) per common share for the three and nine months ended September 30, 2016 and 2015: 
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
(in thousands, except per share amounts)
 
2016
 
2015
 
2016
 
2015
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) used for basic and diluted earnings per share
 
$
(2,620)
 
$
(1,807)
 
$
7,462
 
$
(8,985)
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic weighted-average outstanding common shares
 
 
21,199
 
 
20,060
 
 
20,591
 
 
20,050
 
Effect of dilutive potential common shares resulting from options
 
 
 
 
 
 
151
 
 
 
Effect of dilutive potential common shares resulting from warrants
 
 
 
 
 
 
705
 
 
 
Weighted-average shares outstanding—diluted
 
 
21,199
 
 
20,060
 
 
21,447
 
 
20,050
 
Net income (loss) per common share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
(0.12)
 
$
(0.09)
 
$
0.36
 
$
(0.45)
 
Diluted
 
$
(0.12)
 
$
(0.09)
 
$
0.35
 
$
(0.45)
 
 
The table below presents common shares underlying stock options and warrants that are excluded from the calculation of the weighted average number of common shares outstanding used for the calculation of diluted net income (loss) per common share. These are excluded from the calculation due to their anti-dilutive effect for the three and nine months ended September 30, 2016 and 2015:
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
(in thousands)
 
2016
 
2015
 
2016
 
2015
 
Weighted-average anti-dilutive common shares resulting from options
 
 
1,241
 
 
1,349
 
 
1,287
 
 
1,341
 
Weighted-average anti-dilutive common shares resulting from warrants
 
 
 
 
289
 
 
 
 
210
 
 
 
 
1,241
 
 
1,638
 
 
1,287
 
 
1,551