Note 18 - Weighted Average Shares Outstanding and Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

18. Weighted Average Shares Outstanding and Net Income (Loss) Per Share

The following table presents a reconciliation of the weighted average shares of common stock used in calculating basic and diluted net income (loss) per share as well as the calculation of basic and diluted net income (loss) per share (in thousands except per share amounts):

Years Ended December 31,		2021			2020			2019
Numerator (basic and diluted)
Net income (loss) from continuing operations allocated to common shareholders	$	(577	)	$	19,282		$	(31,425	)
Net income (loss) from discontinued operations		10,673			(164,399	)		(28,766	)
Net income (loss) allocated to common shareholders	$	10,096		$	(145,117	)	$	(60,191	)
Denominator
Weighted average common shares outstanding, basic		45,788			45,614			46,559
Dilutive effect of RSUs and convertible notes (1)(2)		—			589			—
Weighted average common shares outstanding, diluted		45,788			46,203			46,559
Basic:
Net income (loss) from continuing operations per share	$	(0.01	)	$	0.42		$	(0.67	)
Net income (loss) from discontinued operations per share		0.23			(3.60	)		(0.62	)
Net income (loss) per share	$	0.22		$	(3.18	)	$	(1.29	)
Diluted:
Net income (loss) from continuing operations per share	$	(0.01	)	$	0.42		$	(0.67	)
Net income (loss) from discontinued operations per share		0.23			(3.56	)		(0.62	)
Net income (loss) per share	$	0.22		$	(3.14	)	$	(1.29	)

(1) Due to the net losses from continuing operations for the years ended December 31, 2021 and 2019, RSUs representing approximately 533,000 and 388,000 shares, respectively, have been excluded from the number of shares used in calculating diluted net income (loss) per share, as their inclusion would be antidilutive.

(2) The number of shares used in calculating diluted net income (loss) per share for the year ended December 31, 2021 excluded the potential dilution from the 2.75% Convertible Notes converting into shares of common stock due to the net loss from continuing operations for the period. The number of shares used in calculating diluted net income per share for the years ended  December 31, 2020 and 2019 excluded potential dilution from the 2.75% Convertible Notes converting into shares of common stock since the average stock price did not exceed $31.47. (See Note 14 for further details).