Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Earnings (loss) per share was calculated as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per-share amounts)	2019		2018		2019			2018
BASIC
Net income (loss)	$	2,669	$	959	$	(3,397	)	$	23,031
Weighted-average common shares outstanding	13,894		13,836		13,861			13,997
Basic earnings (loss) per share	$	0.19	$	0.07	$	(0.25	)	$	1.65
DILUTED
Net income (loss)	$	2,669	$	959	$	(3,397	)	$	23,031
Weighted-average common shares outstanding for basic	13,894		13,836		13,861			13,997
Dilutive effect of stock options, restricted stock and common stock warrants	276		123		—			119
Weighted-average common shares outstanding on a diluted basis	14,170		13,959		13,861			14,116
Diluted earnings (loss) per share	$	0.19	$	0.07	$	(0.25	)	$	1.63

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 September 30,		Nine Months Ended September 30,
(In thousands)	2019	2018	2019	2018
Stock options	382	382	436	365
Restricted stock awards	9	59	89	134
Performance-based warrants	175	175	175	175