Note 11 - Earnings Per Share

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

EARNINGS (LOSS) PER SHARE

NOTE 11—EARNINGS (LOSS) PER SHARE

The following is the computation of basic and diluted EPS:

	Three months ended September 30,				Nine months ended September 30,
(In thousands, except per share amounts)	2021		2020		2021		2020
Numerator
Net income (loss)	$	7,035	$	(4,776)	$	21,120	$	(162)
Denominator
Weighted average shares used to compute basic earnings (loss) per share		44,109		42,647		43,915		42,373
Dilutive effect of stock-based awards		356		—		81		—
Weighted average shares used to compute diluted earnings (loss) per share		44,465		42,647		43,996		42,373
Earnings (loss) per share
Basic	$	0.16	$	(0.11)	$	0.48	$	(0.00)
Diluted	$	0.16	$	(0.11)	$	0.48	$	(0.00)

Diluted earnings (loss) per share in each of the three and nine month periods ended September 30, 2020 excludes 937,424 options to purchase our common stock because their effect would be anti-dilutive.