Earnings Per Share

The following table details the computation of basic and diluted earnings per share:



	Three months ended March 31,
	2019			2018
Numerator:
Net income attributable to Providence	$	582		$	5,430
Less dividends on convertible preferred stock	(1,087		)	(1,089		)
Less income allocated to participating securities	(30		)	(844		)
Net income (loss) available to common stockholders	$	(535	)	$	3,497

Continuing operations	$	197		$	5,490
Discontinued operations	(732		)	(1,993		)
Net (loss) income available to common stockholders	$	(535	)	$	3,497

Denominator:
Denominator for basic earnings per share -- weighted-average shares	12,899,714			13,105,965
Effect of dilutive securities:
Common stock options	53,614			88,791
Performance-based restricted stock units	—			4,684
Denominator for diluted earnings per share -- adjusted weighted-average shares assumed conversion	12,953,328			13,199,440

Basic earnings (loss) per share:
Continuing operations	$	0.02		$	0.42
Discontinued operations	(0.06		)	(0.15		)
Basic earnings (loss) per share	$	(0.04	)	$	0.27
Diluted earnings (loss) per share:
Continuing operations	$	0.02		$	0.42
Discontinued operations	(0.06		)	(0.15		)
Diluted earnings (loss) per share	$	(0.04	)	$	0.27

Income allocated to participating securities is calculated by allocating a portion of net income attributable to Providence, less dividends on convertible stock, to the convertible preferred stockholders on a pro-rata, as converted basis; however, the convertible preferred stockholders are not allocated losses.

The following weighted average shares were not included in the computation of diluted earnings per share as the effect of their inclusion would have been anti-dilutive:



	Three months ended March 31,
	2019	2018
Stock options to purchase common stock	559,829	12,142
Convertible preferred stock	801,606	803,200