Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings per share was calculated as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per-share amounts)	2021		2020		2021		2020
BASIC
Net income (loss)	$	(955)	$	6,168	$	11,631	$	26,414
Weighted-average common shares outstanding	13,392		13,928		13,622		13,935
Basic earnings (loss) per share	$	(0.07)	$	0.44	$	0.85	$	1.90

DILUTED
Net income (loss)	$	(955)	$	6,168	$	11,631	$	26,414
Weighted-average common shares outstanding for basic	13,392		13,928		13,622		13,935
Dilutive effect of stock options, restricted stock and common stock warrants	—		277		298		254
Weighted-average common shares outstanding on a diluted basis	13,392		14,205		13,920		14,189
Diluted earnings (loss) per share	$	(0.07)	$	0.43	$	0.84	$	1.86

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)	2021	2020	2021	2020
Stock options	833	511	359	494
Restricted stock awards	329	—	46	18
Common stock warrants	275	275	183	275