NET (LOSS) INCOME PER SHARE

9 Months Ended

Sep. 30, 2020

NET (LOSS) INCOME PER SHARE

NET (LOSS) INCOME PER SHARE

8. NET (LOSS) INCOME PER SHARE

Basic net (loss) income per share is computed by dividing the net (loss) income by the weighted average shares outstanding. Diluted (loss) income per share is computed by dividing the net (loss) income by the weighted average diluted shares outstanding.

The computation of basic and diluted (loss) income per share was as follows (in thousands, except share and per share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net (loss) income	$	(7,840)	$	1,998	$	(5,347)	$	(9,385)
Weighted average common shares outstanding
Basic		23,423,437		23,222,045		23,350,204		23,152,776
Dilutive common stock options, restricted stock unit awards and restricted stock awards		—		115,858		—		—
Diluted		23,423,437		23,337,903		23,350,204		23,152,776
Basic (loss) income per share of common stock	$	(0.33)	$	0.09	$	(0.23)	$	(0.41)
Diluted (loss) income per share of common stock	$	(0.33)	$	0.09	$	(0.23)	$	(0.41)

The Company had a net loss for the three and nine months ended September 30, 2020 and for the nine months ended September 30, 2019. As a result, all stock options, restricted stock unit awards and restricted stock awards were anti-dilutive and excluded from weighted average shares used in determining the diluted loss per share of common stock for those periods. The Company had net income for the three

months ended September 30, 2019 and had 115,858 dilutive restricted stock unit awards and no dilutive common stock options or restricted stock awards for that period.

The following weighted average numbers of stock options, restricted stock unit awards and restricted stock awards have been excluded from the calculation of diluted (loss) income per share of common stock, as their effect would be anti-dilutive for the three and nine months ended September 30, 2020 and 2019:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Stock options		—		—		—	67,625
Restricted stock units		242,478		222,000		332,868	471,624
Restricted stock awards		—		—		—	10,874
Total		242,478		222,000		332,868	550,123