Earnings per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Common Share

Earnings per Common Share

15. Earnings per Common Share

The Company computes basic net income (loss) per share using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted average number of common shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities may consist of warrants, restricted stock units or other contingently issuable shares. The dilutive effect of outstanding warrants, restricted stock units and other contingently issuable shares is reflected in diluted earnings per share by application of the treasury stock method. The weighted average share impact of warrants and restricted stock units that were excluded from the calculation of diluted shares due to the Company incurring a net loss for the three and six month periods ending June 30, 2020 were 94,333 shares and 165,167 shares, respectively.

The following table provides the basis for basic and diluted earnings per share by reconciling the denominators of the computations:

	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
(In Thousands)
Weighted average shares outstanding:
Basic weighted average shares outstanding	15,145	16,543	15,142	17,018
Effect of dilutive securities	—	1,238	—	1,172
Diluted weighted average shares outstanding	15,145	17,781	15,142	18,190