Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

(9) (Loss) Earnings Per Share

Basic (loss) earnings per share was computed by dividing net (loss) income by the weighted-average number of Common Shares outstanding for each respective period. Diluted earnings per share was calculated by dividing net income by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented. However, for all periods in which the Company recognized a net loss, the Company did not recognize the effect of the potential dilutive securities as their inclusion would be anti-dilutive. Potential dilutive shares of 225,781 and 213,235 for the three and six months ended June 30, 2022 were excluded from diluted loss per share because the effect would be anti-dilutive.

Weighted-average Common Shares outstanding used in calculating basic and diluted earnings per share were as follows:

	Three months ended		Six months ended
	June 30,		June 30,
	2022	2021	2022	2021
Basic weighted-average Common Shares outstanding	27,268,938	27,137,207	27,233,808	27,077,152
Effect of dilutive shares	-	295,210	-	364,844
Diluted weighted-average Common Shares outstanding	27,268,938	27,432,417	27,233,808	27,441,996

There were 780,793 and 747,545 performance-based right to receive Common Shares outstanding at June 30, 2022 and 2021, respectively. The right to receive Common Shares are included in the computation of diluted earnings per share based on the number of Common Shares that would be issuable if the end of the quarter were the end of the contingency period.