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Earnings (Loss) per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings (Loss) per Share

Note 17 – Earnings (Loss) per Share

A summary of the calculation of basic and diluted earnings (loss) per share for the years ended December 31, 2019, 2018 and 2017 is as follows:

 

(In thousands, except for per share amounts)

 

2019

 

 

2018

 

 

2017

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$

(52,982

)

 

$

(19,342

)

 

$

23,840

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares – basic

 

 

47,836

 

 

 

47,880

 

 

 

48,153

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

—

 

 

 

—

 

 

 

406

 

Restricted stock and restricted stock units

 

 

—

 

 

 

—

 

 

 

140

 

Weighted average number of shares – diluted

 

 

47,836

 

 

 

47,880

 

 

 

48,699

 

Earnings (loss)  per share – basic

 

$

(1.11

)

 

$

(0.40

)

 

$

0.50

 

Earnings (loss) per share – diluted

 

$

(1.11

)

 

$

(0.40

)

 

$

0.49

 

For each of the years ended December 31, 2019 and 2018, 5.7 million and 2.5 million, respectively, shares of unvested stock options, PSUs, RSUs and restricted stock were excluded from the calculation of diluted EPS due to their anti-dilutive effect.

For the year ended December 31, 2017, 3.2 million stock options were outstanding but were not included in the computation of diluted earnings (loss) per share because the options’ exercise prices were greater than the average market price of the common shares, therefore making them anti-dilutive under the treasury stock method.