Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Earnings (loss) per share was calculated as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
(In thousands, except per-share amounts)	2019			2018		2019			2018
BASIC
Net income (loss)	$	(5,061	)	$	22,659	$	(6,066	)	$	22,072
Weighted-average common shares outstanding	13,863			14,070		13,845			14,078
Basic earnings (loss) per share	$	(0.37	)	$	1.61	$	(0.44	)	$	1.57
DILUTED
Net income (loss)	$	(5,061	)	$	22,659	$	(6,066	)	$	22,072
Weighted-average common shares outstanding for basic	13,863			14,070		13,845			14,078
Dilutive effect of stock options, restricted stock and common stock warrants	—			88		—			117
Weighted-average common shares outstanding on a diluted basis	13,863			14,158		13,845			14,195
Diluted earnings (loss) per share	$	(0.37	)	$	1.60	$	(0.44	)	$	1.55

Securities Excluded from the Computation of Diluted Earnings (Loss) Per Common Share

The following number of stock options, shares of restricted stock and common stock warrants were excluded from the computation of diluted earnings per common share as their inclusion would have been anti-dilutive:

	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2019	2018	2019	2018
Stock options	382	382	462	357
Restricted stock awards	31	204	129	172
Performance-based warrants	175	—	175	—