Earnings per Common Share

3 Months Ended

Mar. 31, 2020

Earnings per Common Share

Earnings per Common Share

Note 13 – Earnings per Share (share counts in thousands)

Basic earnings per share is based on the weighted average number of shares outstanding and excludes the dilutive effect of common stock equivalents. Diluted earnings per share is based on the weighted average number of shares outstanding and includes the dilutive effect of common stock equivalents to the extent they are not anti-dilutive. For the three months ended March 31, 2020, the anti-dilutive effect of our securities is immaterial. Because the Company is in a net loss position for the three months ended March 31, 2019, diluted net loss per share for this period excludes the effects of common stock equivalents, which are anti-dilutive.

The details of the earnings per share calculations for the three months ended March 31, 2020 and 2019 are as follows:

	March 31,
in thousands, except per share data	2020		2019
Net income (loss)	$	98	$	(5,671)
Weighted average common shares outstanding:
Basic		40,127		40,036
Incremental shares with dilutive effect:
Restricted stock awards		211		—
Diluted		40,338		40,036
Net income (loss) per share:
Basic	$	0.00	$	(0.14)
Diluted	$	0.00	$	(0.14)