(Loss) Earnings Per Share

9 Months Ended

Sep. 30, 2020

(Loss) Earnings Per Share [Abstract]

(Loss) Earnings Per Share

14. (Loss) Earnings per Share 

The following table sets forth the computation of basic and diluted (loss) earnings per common share (in thousands, except per share data): 

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Basic (loss) income per common share	2020		2019		2020		2019
Net (loss) income	$	(2,870)	$	(134)	$	(13,224)	$	2,401
Net income (loss) allocated to participating securities		20		1		93		(17)
Net (loss) income allocated to common shareholders	$	(2,850)	$	(133)	$	(13,131)	$	2,384
Basic weighted-average common shares outstanding		37,912		37,255		37,608		37,065
Basic (loss) income per common share	$	(0.08)	$	(0.00)	$	(0.35)	$	0.06
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Diluted (loss) income per common share	2020		2019		2020		2019
Net (loss) income	$	(2,870)	$	(134)	$	(13,224)	$	2,401
Net income (loss) allocated to participating securities		20		1		93		(16)
Net (loss) income allocated to common shareholders	$	(2,850)	$	(133)	$	(13,131)	$	2,385
Basic weighted-average common shares outstanding		37,912		37,255		37,608		37,065
Effect of dilutive stock options and awards		--		--		--		785
Diluted weighted-average common shares outstanding		37,912		37,255		37,608		37,850
Diluted (loss) income per common share	$	(0.08)	$	(0.00)	$	(0.35)	$	0.06

We excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares because the inclusion of these stock options would be antidilutive to loss per common share. Accordingly, for the three and nine months ended September 30, 2020 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss. For the three months ended September 30, 2019 all stock

options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss. For the nine months ended September 30, 2019 stock options to purchase a weighted-average of 123,000 shares were antidilutive and excluded from the calculation of diluted weighted-average common shares outstanding.