Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2019

Basic earnings (loss) per share (“EPS”) is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. Diluted EPS is calculated using net income (loss) available to common stockholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying stock options and restricted common stock. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data):



	2019		2018			2017
Net income (loss) attributable to common stockholders	$	1,647	$	(8,441	)	$	(45,449	)
Shares:
Basic weighted average shares outstanding	44,036,947		42,329,556			37,759,497
Effect of dilutive securities	939,489		—			—
Diluted weighted average number of shares outstanding	44,976,436		42,329,556			37,759,497
Earnings (loss) per share:
Basic earnings (loss) per share	$	0.04	$	(0.20	)	$	(1.20	)
Diluted earnings (loss) per share	$	0.04	$	(0.20	)	$	(1.20	)

The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. Potential common shares are excluded from the computation of diluted earnings per share when the effect would be anti-dilutive. Shares issuable on the vesting or exercise of share based awards or exercise of outstanding warrants, and the shares underlying the 18,500 shares of convertible preferred stock outstanding in the first quarter of 2017, were excluded from the calculation of diluted loss per share because the effect of their inclusion would have been anti-dilutive totaled 1,513,552, 2,829,630 and 4,154,778 for 2019, 2018 and 2017, respectively.