Net Income per Share

6 Months Ended

Jun. 30, 2020

Net (Loss) Income per Share

The computation of the Company's basic and diluted net income per share is as follows:



	Three months ended June 30,						Six months ended June 30,
	2020		2019		2020		2019
	(In thousands, except per share data)
Numerator for basic and diluted (loss) income per common share:
Net (loss) income	$	(134,779)	$	21,390	$	(112,451)	$	53,033
Less: Net loss (income) allocated to unvested participating restricted stock	4,763		(719)		3,961		(1,827)
Net (loss) income available to common stockholders - basic	(130,016)		20,671		(108,490)		51,206
Effect of unvested participating restricted stock in two-class calculation	3		7		—		20

Net (loss) income available to common stockholders - diluted	$	(130,013)	$	20,678	$	(108,490)	$	51,226
Denominator:
Weighted average outstanding shares of common stock - basic	16,177		17,181		16,215		17,262
Dilutive effect of stock options	—		382		—		364
Weighted average outstanding shares of common stock - diluted	16,177		17,563		16,215		17,626
Net (loss) income per common share:
Basic	$	(8.04)	$	1.20	$	(6.69)	$	2.97
Diluted	$	(8.04)	$	1.18	$	(6.69)	$	2.91

For the six months ended June 30, 2020, diluted loss per common share was computed using the basic weighted average number of shares outstanding during the period as the 101,000 shares from common stock equivalents would have been antidilutive. There were no common stock equivalents for the three months ended June 30, 2020.