Stockholders’ Equity and Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2020

Stockholders' Equity and Earnings (Loss) per Share

Stockholders’ Equity and Earnings (Loss) per Share

As of September 30, 2020, we had a total of 6,166,720 shares of common stock, $0.01 par value, outstanding. We also had 78,589 shares held as treasury stock. Total authorized common stock is 50,000,000 shares.

Basic earnings (loss) per common share (“EPS”) are computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. A reconciliation of the numerators and denominators of the basic and diluted losses per share computations is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2020		2019		2020		2019
Net loss (numerator):	$	(15,199)	$	(10,547)	$	(53,542)	$	(25,778)
Loss per share:
Basic and diluted	$	(2.67)	$	(2.80)	$	(11.91)	$	(6.82)

Shares (denominator):
Weighted average common shares outstanding - basic	5,703		3,770		4,495		3,780

Weighted average common shares outstanding - diluted	5,703		3,770		4,495		3,780

For all periods presented, the computation of diluted loss per share excludes the effect of certain outstanding stock options and RSUs because their inclusion would be anti-dilutive. The number of options that were excluded from diluted loss per share were 33,458 during the three and nine months ended September 30, 2020 and 33,458 during the three and nine months ended September 30, 2019. The number of RSUs, which are not participating securities, that were excluded from our basic and diluted loss per share because they are anti-dilutive, were 114,368 for the three and nine months ended September 30, 2020 and 72,218 for the three and nine months ended September 30, 2019.