EARNINGS (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2020

EARNINGS (LOSS) PER SHARE

Schedule of Earnings per share, basic and diluted

Earnings (loss) per share for the three months ended March 31, 2020 and 2019 are calculated for basic and diluted earnings (loss) per share as follows:

	Basic				Diluted
	Three Months Ended				Three Months Ended
	March 31,				March 31,
(in thousands, except per share amounts)	2020		2019		2020		2019
Net(loss)/ income	$	(7,011)	$	449	$	(7,011)	$	449
Net income allocated to restricted stock		—		(9)		—		(9)
Net(loss)/ income allocated to common shares	$	(7,011)	$	440	$	(7,011)	$	440
Basic Weighted-Average Shares Outstanding		11,902		11,747		11,902		11,747
Dilutive effect of stock options and ESPP						—		76
Diluted Weighted-Average Shares Outstanding						11,902		11,823
(Loss)/Earnings Per Share	$	(0.59)	$	0.04	$	(0.59)	$	0.04

The number of anti-dilutive shares, which have been excluded from the computation of diluted earnings (loss) per share was 1.8 million and 4.1 million for the three months ended March 31, 2020 and 2019, respectively. Anti-dilutive shares consist of out-of-the-money Class C Special stock, out-of-the-money common stock options, common stock options that are anti-dilutive when calculating the impact of the potential dilutive common shares using the treasury stock method, underlying shares related to out-of-the-money bonds issued as convertible debt (for 2019 only) and out-of-the-money warrants exercisable for common stock.