(Loss) Earnings Per Share

6 Months Ended

Jun. 30, 2020

Note 5 – (Loss) Earnings Per Share

Basic (loss) earnings per share are computed by dividing net (loss) income by the weighted average number of shares of Common Stock outstanding during the period. The Company’s diluted (loss) earnings per share give effect to all potential shares of Common Stock outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted (loss) earnings per share, the treasury stock method is used in determining the number of shares assumed to be issued from the exercise of Common Stock equivalents. The Company had a net loss for the three months ended June 30, 2020. As a result, basic and diluted loss per common share were the same, as any potentially dilutive securities would be anti-dilutive.

The following table illustrates (loss) earnings per share and the weighted average shares outstanding used in calculating basic and diluted (loss) earnings per share:

	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020		2019
Net (loss) income	$	(10,322	)	$	2,751	$	1,551	$	11,165

Basic weighted average shares of Common Stock outstanding		32,579,549			33,440,764		32,635,322		33,508,479
Dilutive effect of stock options, restricted stock awards and restricted stock units		—			132,844		233,392		142,638
Diluted weighted average shares of Common Stock outstanding		32,579,549			33,573,608		32,868,714		33,651,117

Basic (loss) earnings per share	$	(0.32	)	$	0.08	$	0.05	$	0.33
Diluted (loss) earnings per share	$	(0.32	)	$	0.08	$	0.05	$	0.33

The following table represents Common Stock issuable upon the exercise of certain stock options that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive.

	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019		2020		2019
Anti-dilutive securities share impact	N/A		630		347		630