Quarterly report pursuant to Section 13 or 15(d)

Computation of Net Loss From Continuing Operations Per Share of Common Stock

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Computation of Net Loss From Continuing Operations Per Share of Common Stock
3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Computation of Net Loss From Continuing Operations Per Share of Common Stock
Computation of Net Loss From Continuing Operations Per Share of Common Stock
Basic net loss from continuing operations per common share is determined by dividing net loss from continuing operations by the basic weighted average number of shares of common stock outstanding. Diluted net loss per common share includes the potentially dilutive effect of common shares issued in connection with outstanding stock options using the treasury stock method and the dilutive impact of restricted stock units. Stock options and restricted stock units to acquire weighted average common shares of 1,673,000 and 1,773,000 for the three months ended March 31, 2015 and 2014, respectively, have been excluded from the computation of diluted weighted average common shares as their effect is anti-dilutive.
The Company calculates net loss per share pursuant to the two-class method, which requires all outstanding unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) to be considered participating securities and included in the computation of basic and diluted earnings per share using the two-class method. The Company included in its computation of weighted average shares outstanding approximately 173,000 and 83,000 weighted average outstanding shares of unvested restricted stock deemed to be participating securities for the three months ended March 31, 2015 and 2014, respectively. The following table identifies the components of net loss per basic and diluted share (in thousands, except for per share data):
 
Three Months Ended March 31,
 
2015
 
2014
Shares outstanding at end of period
9,138

 
8,684

Basic weighted average shares outstanding
9,168

 
8,700

Dilutive effect of stock options and restricted stock units

 

Total diluted weighted average shares outstanding
9,168

 
8,700

Net loss from continuing operations
$
(9,873
)
 
$
(6,173
)
Net loss from continuing operations per basic and diluted share
$
(1.07
)
 
$
(0.71
)