(Loss) Earnings Per Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share
(Loss) Earnings Per Share

Basic (loss) earnings per common share is calculated by dividing net (loss) income by the weighted average number of common shares outstanding. Diluted (loss) earnings per common share is calculated by dividing net (loss) income by the weighted average shares outstanding plus share equivalents that would arise from the exercise of share options and the vesting of restricted stock and performance shares. The computation of basic and diluted (loss) earnings per common share for the three and six months ended June 30, 2017 and 2016 is as follows:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
Net (loss) income
$
(245,366
)
 
$
1,930,769

 
$
(3,117,409
)
 
$
2,193,380

Denominator:
 

 
 
 
 
 
 
Denominator for basic (loss) earnings per common share - weighted-average shares
28,016,122

 
28,922,741

 
28,085,710

 
28,997,401

Effect of dilutive securities:
 

 
 
 
 
 
 
Employee stock awards
—

 
660,876

 
—

 
703,567

Denominator for dilutive (loss) earnings per common share
28,016,122

 
29,583,617

 
28,085,710

 
29,700,968

Basic (loss) earnings per common share
$
(0.01
)
 
$
0.07

 
$
(0.11
)
 
$
0.08

Diluted (loss) earnings per common share
$
(0.01
)
 
$
0.07

 
$
(0.11
)
 
$
0.07



For the three and six months ended June 30, 2017, 239,440 and 331,618 incremental shares related to stock-based awards were not included in the computation of diluted loss per common share because of the net loss during the respective periods. For the three and six months ended June 30, 2016, there were no employee stock options and no unvested restricted stock and performance shares excluded from the calculation of diluted earnings per common share.

As of June 30, 2017, none of the conditions allowing holders of the Notes to convert have been met and no conversion spread exists. As such, the Notes did not have a dilutive impact on diluted loss per common share for the three and six months ended June 30, 2017.