Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

(8) (Loss) Earnings Per Share

Basic (loss) earnings per share was computed by dividing net (loss) income by the weighted-average number of Common Shares outstanding for each respective period. Diluted (loss) earnings per share was calculated by dividing net (loss) income by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented. However, for all periods in which the Company recognized a net loss, the Company did not recognize the effect of the potential dilutive securities as their inclusion would be anti-dilutive. Potential dilutive shares of 204,461 and 276,360 for the three and six months ended June 30, 2020, respectively, were excluded from diluted loss per share because the effect would have been anti-dilutive.

Weighted-average Common Shares outstanding used in calculating basic and diluted (loss) earnings per share were as follows:

	Three months ended		Six months ended
	June 30,		June 30,
	2020	2019	2020	2019
Basic weighted-average Common Shares outstanding	26,952,336	27,887,157	27,092,186	28,208,229
Effect of dilutive shares	-	406,390	-	507,496
Diluted weighted-average Common Shares outstanding	26,952,336	28,293,547	27,092,186	28,715,725

There were 771,854 and 662,509 performance-based right to receive Common Shares outstanding at June 30, 2020 and 2019, respectively. The right to receive Common Shares are included in the computation of diluted earnings per share based on the number of Common Shares that would be issuable if the end of the quarter were the end of the contingency period.