Earnings (Loss) Per Share

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) applicable to common stockholders by the weighted average numbers of shares of common stock outstanding during the period. Diluted EPS is calculated using the treasury stock method and is computed similarly to basic EPS, except that the denominator is increased for the assumed exercise of dilutive stock options and unvested restricted stock for the diluted shared based awards.

The following table summarizes the weighted average common shares for basic and diluted EPS computations.



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
Weighted average number of common shares outstanding — basic	26,580,772			25,844,061		26,512,737			25,776,919
Effect of dilutive share based awards	—			740,051		—			739,045
Weighted average number of common shares outstanding — diluted	26,580,772			26,584,112		26,512,737			26,515,964
(Loss) earnings per share:
Basic	$	(0.05	)	$	0.02	$	(0.13	)	$	0.07
Diluted	$	(0.05	)	$	0.02	$	(0.13	)	$	0.07

For the three and six months ended June 30, 2019, there was no effect of dilutive stock options and unvested restricted common stock on the calculation of diluted EPS as the Company had a net loss for these periods. There would have been no anti-dilutive shares had the Company not been in a net loss position for this period.

For the three and six months ended June 30, 2018, there were no stock options or outstanding restricted stock awards excluded from the computation of earnings per diluted share as there were no shares with an anti-dilutive effect.