Earnings per Share

3 Months Ended

Mar. 31, 2023

Earnings per Share Basic earnings per share is based on the weighted average number of shares outstanding and excludes the dilutive effect of common stock equivalents. Diluted earnings per share is based on the weighted average number of shares outstanding and includes the dilutive effect of common stock equivalents to the extent they are not anti-dilutive. Because the Company was in a net loss position for the three months ended March 31, 2023, diluted net loss per share for the period excludes the effects of common stock equivalents, which are anti-dilutive.

The details of the earnings per share calculations for the three months ended March 31, 2023 and 2022 are as follows:


	Three Months Ended March 31,
(In thousands, except per share data)	2023		2022
Net loss	$	(8,356)	$	5,214
Weighted average common shares outstanding:
Basic	40,057		39,577
Incremental shares with dilutive effect:
Restricted stock awards	—		110
Diluted	40,057		39,687

Net loss per share:
Basic	$	(0.21)	$	0.13
Diluted	$	(0.21)	$	0.13