EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

EARNINGS PER SHARE:

The following table summarizes the calculation of earnings per share:


	Quarter Ended June 30,				Six Months Ended June 30,
(in thousands, except share and per share data)	2023		2022		2023		2022

Net income (loss)	$	(31,442)	$	17,721	$	(26,384)	$	37,672

Weighted average shares:
Basic weighted-average number of common shares outstanding	18,775,022		18,706,953		18,765,292		19,143,925
Dilutive effect of outstanding common stock equivalents	—		127,490		—		166,825
Diluted weighted-average number of common shares outstanding	18,775,022		18,834,443		18,765,292		19,310,750
Net income (loss) per share:
Basic earnings per share	$	(1.67)	$	0.95	$	(1.41)	$	1.97
Diluted earnings per share (1)	(1.67)		0.94		(1.41)		1.95

(1) Excluded from the computation of diluted earnings per share (due to their antidilutive effect) for the quarters and six months ended June 30, 2023 and 2022 were certain unvested RSUs and PSUs. On a weighted average basis, 248,840 and 71,216 unvested stock units convertible into shares of common stock were excluded at June 30, 2023 and 2022, respectively, because their effect would have been anti-dilutive.