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Net Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2019
Net Income (Loss) Per Share  
Net Income (Loss) Per Share

Note 13. Net Income (Loss) per Share

Basic net income (loss) per share is computed using the weighted average number of common shares outstanding during the periods less shares of common stock subject to repurchase and non-vested stock awards. Diluted net income (loss) per share is computed using the weighted average number of common shares outstanding and potentially dilutive common shares outstanding during the periods. The dilutive effect of outstanding stock options and restricted stock awards is reflected in diluted earnings per share by application of the treasury stock method. Potentially dilutive common shares consist of common shares issuable upon the exercise of stock options. Potentially dilutive common shares are excluded in net loss periods, as their effect would be anti-dilutive.

A reconciliation of the numerators and denominators of the basic and diluted net income (loss) per share calculations is as follows (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended

 

 

 

December 31, 

 

 

    

2019

    

2018

    

2017

 

Numerator:

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to AXT, Inc.

 

$

(2,600)

 

$

9,654

 

$

10,148

 

Less: Preferred stock dividends

 

 

(177)

 

 

(177)

 

 

(177)

 

Net income (loss) available to common stockholders

 

$

(2,777)

 

$

9,477

 

$

9,971

 

Denominator:

 

 

 

 

 

 

 

 

 

 

Denominator for basic net income (loss) per share - weighted-average common shares

 

 

39,487

 

 

39,049

 

 

37,444

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

Common stock options

 

 

 —

 

 

1,106

 

 

1,339

 

Restricted stock awards

 

 

 —

 

 

110

 

 

183

 

Denominator for dilutive net income (loss) per common shares

 

 

39,487

 

 

40,265

 

 

38,966

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to AXT, Inc.

 

$

(0.07)

 

$

0.24

 

$

0.27

 

Net income (loss) to common stockholders

 

$

(0.07)

 

$

0.24

 

$

0.27

 

Diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to AXT, Inc.

 

$

(0.07)

 

$

0.24

 

$

0.26

 

Net income (loss) to common stockholders

 

$

(0.07)

 

$

0.24

 

$

0.26

 

Options excluded from diluted net income (loss) per share as the impact is anti-dilutive

 

 

2,953

 

 

266

 

 

86

 

Restricted stock excluded from diluted net income (loss) per share as the impact is anti-dilutive

 

 

939

 

 

227

 

 

63