(LOSS) EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

For the years ended December 31, 2020, 2019, and 2018, basic earnings per share were computed by dividing net (loss) income 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 anti-dilutive.

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


	For the Year Ended December 31,
In thousands	2020	2019	2018
Basic average common shares outstanding	17,379	17,271	17,204
Effect of dilutive options and restricted stock awards	—	—	126
Diluted average common shares outstanding	17,379	17,271	17,330

Dilutive stock options totaling 42,716 and 54,828 shares of Common Stock were excluded from the diluted per share computations for the years ended December 31, 2020 and 2019, respectively as the Company reported net losses during those periods and, therefore, the effective of including these options would be anti-dilutive.

For the years ended December 31, 2020, 2019, and 2018, stock options for 705,450, 573,920 and 455,515 shares of Common Stock, respectively, were not considered in computing diluted earnings per common share as the stock options were considered anti-dilutive.