Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Earnings (Loss) Per Share

For the quarters and six months ended June 30, 2019 and 2018, basic earnings per share were computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Unexercised stock options and unvested restricted shares are excluded from this calculation but are included in the diluted earnings per share calculation using the treasury stock method as long as their effect is not antidilutive.

The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share:

	Quarter Ended   June 30,		Six Months Ended   June 30,
In thousands	2019	2018	2019	2018
Basic average common shares outstanding	17,267	17,196	17,260	17,178
Effect of dilutive options and restricted stock awards	—	139	—	156
Diluted average common shares outstanding	17,267	17,335	17,260	17,334

Dilutive stock options totaling 54,713 and 69,730 shares of Common Stock were excluded from the diluted per share computation for the quarter and six months ended June 30, 2019, respectively, as the Company reported a net loss during those periods and, therefore, the effect of including these options would be antidilutive.

For each of the quarters ended June 30, 2019 and 2018, stock options for 520,189 shares and 162,830 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive.

For each of the six months ended June 30, 2019 and 2018, stock options for 521,293 shares and 149,940 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive.