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.