Earnings Per Share

3 Months Ended

Mar. 31, 2019

Basic and Diluted Earnings Per Common Share

Earnings Per Share

9. Earnings Per Share

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the reported periods. Diluted EPS reflects the potential dilution that could occur under the treasury stock method if stock options and other commitments to issue common stock were exercised, except in loss periods where the effect would be antidilutive. For the three months ended March 31, 2019 and 2018, approximately 44,000 and 816,000 common shares, respectively, have been excluded from the calculation of diluted EPS because the effect of their inclusion would have been antidilutive.

A reconciliation of the amounts used in the basic and diluted EPS computation was as follows (in thousands, except per share amounts):

	Three Months Ended March 31,
	2019		2018
Numerator:
Net income	$	4,675	$	2,811
Denominator:
Basic EPS - Weighted average number of common shares outstanding		12,218		11,846
Dilutive effect of stock awards		959		307
Diluted EPS - Weighted average number of common shares outstanding		13,177		12,153
Earnings per share:
Basic	$	0.38	$	0.24
Diluted		0.35		0.23