Earnings per Share

9 Months Ended

Sep. 30, 2020

8.	Earnings per Share

The computational components of basic and diluted earnings per share for the three-month periods ended September 30, are below.

	2020			2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net (loss) income	$	(239	)	$	1,931

Denominator
Basic weighted-average shares outstanding		35,359			35,070
Common stock equivalents arising from stock options and restricted stock awards		—			555
Diluted weighted-average shares outstanding		35,359			35,625

The computational components of basic and diluted earnings per share for the nine-month periods ended September 30, are below.

	2020		2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	6,431	$	9,310

Denominator
Basic weighted-average shares outstanding		35,264		34,944
Common stock equivalents arising from stock options and restricted stock awards		208		579
Diluted weighted-average shares outstanding		35,472		35,523

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended September 30, 2020 and 2019, zero and 0.4 million, respectively, and during each of the nine-month periods ended September 30, 2020 and 2019, 0.9 million and 0.5 million, respectively of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.