Earnings per Share

6 Months Ended

Jun. 30, 2022

Earnings per Share

Earnings per 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. Because the Company was in a net loss position for the three and six months ended June 30, 2022 and June 30, 2021, diluted net loss per share for these periods excludes the effects of common stock equivalents, which are anti-dilutive.

The details of the earnings per share calculations for the three months ended June 30, 2022 and 2021 are as follows:

	Three months ended				Six months ended
	June 30,				June 30,
	2022		2021		2022		2021
	(in thousands, except per share data)				(in thousands, except per share data)
Net loss	$	(9,350)	$	(6,685)	$	(4,136)	$	(15,836)
Weighted average common shares outstanding:
Basic		40,157		39,694		39,870		39,692
Incremental shares with dilutive effect:
Restricted stock awards		—		—		—		—
Diluted		40,157		39,694		39,870		39,692
Net loss per share:
Basic	$	(0.23)	$	(0.17)	$	(0.10)	$	(0.40)
Diluted	$	(0.23)	$	(0.17)	$	(0.10)	$	(0.40)