NET INCOME PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2017

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016

Numerator (in thousands):
Net income	$	617	$	791	$	1,332	$	1,270
Less: Series A convertible preferred stock dividends		(178)		(158)		(350)		(312)
Less: Series C preferred stock dividends		(82)		(73)		(161)		(144)
Income available to common stockholders - basic	$	357	$	560	$	821	$	814
Effect of dilutive securities:
Less: Change in fair value of warrant liability for dilutive warrants (income) expense		(15)		(10)		2		(23)
Add: Series A convertible preferred stock dividends		178		158		350		312
Income available to common stockholders - diluted	$	520	$	708	$	1,173	$	1,103

Denominator:
Weighted average shares outstanding - basic		22,347,549		21,400,244		22,216,842		21,400,244
Weighted average effect of dilutive common equivalent shares:
Warrants		178,425		782,904		255,083		824,491
Assumed conversion of Series B convertible preferred stock		35,713,147		35,713,147		35,713,147		35,713,147
Assumed conversion of Series D convertible preferred stock		7,528,078		7,528,078		7,528,078		7,528,078
Assumed conversion of Series A convertible preferred stock		43,812,469		39,882,454		43,812,469		39,882,454
Options		5,430,372		3,668		5,906,733		6,517
Weighted average common shares outstanding - diluted		115,010,040		105,310,495		115,432,352		105,354,931

Earnings per common share:
Basic	$	0.02	$	0.03	$	0.04	$	0.04
Diluted	$	0.00	$	0.01	$	0.01	$	0.01

Common Shares Issuable upon Vesting or Exercise of Convertible Securities

The following potentially dilutive common share equivalents were excluded from the calculation of diluted earnings per common share because their effect was antidilutive for each of the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Options		1,119,333		10,455,322		1,119,333		10,455,322

Cyalume Technologies Holdings, Inc. 10-Q