Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Note 10. Earnings per Share

Per share data is determined by using the weighted average number of common shares outstanding. Common equivalent shares are considered only for diluted earnings per share, unless considered anti-dilutive. Common equivalent shares, determined using the treasury stock method, result from stock options with exercise prices that are below the average market price of the common stock.

Basic earnings per share include no dilution and are computed by dividing income available to common shareholders by the weighted-average number of shares outstanding during the period. Diluted earnings per share reflect the potential of securities that could share in our earnings.

A reconciliation of the weighted average number of common shares outstanding (in thousands) for the years ended December 31 is as follows:

	2019		2018
Common shares outstanding, beginning of the year		12,408		11,886
Weighted average common shares issued		34		246
Weighted average number of common shares outstanding		12,442		12,132
Dilutive effect of stock options and RSUs (1)		-		449
Diluted weighted average number of common shares outstanding		12,442		12,581

(1) Stock options and RSUs are excluded for periods presented in which the Company has a net loss because the effects are anti-dilutive.

Common stock equivalents (in thousands) that have been excluded from the calculation of earnings per share as of December 31 because they would have been anti-dilutive are as follows:

	2019		2018
Stock options		398		252

None of our RSUs met vesting conditions during 2019.