Note 12 - Loss Per Common Share

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

12. LOSS PER COMMON SHARE

In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 260 (“FASB ASC 260”), “Earnings per Share,” Basic loss from continuing operations per share, basic income from discontinued operations per share and basic net income (loss) per share that is available to shareholders is computed by dividing the income or loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the respective loss available to common stockholders by the weighted average number of diluted shares outstanding during the period calculated using the treasury stock method. Due to the Company’s loss from continuing operations in the three months ended March 31, 2022 and March 31, 2021, the assumed exercise of stock options and the unvested restricted stock that would otherwise increase diluted shares using the treasury stock method would have had an antidilutive effect and therefore 0.2 million shares related to stock options outstanding at March 31, 2022 and zero shares of restricted stock were excluded from the computation of diluted net loss per share for the three months ended March 31, 2022 and 0.2 million shares related to stock options outstanding at March 31, 2021 were excluded for the three months ended March 31, 2021 and 3.0 million shares of restricted stock were excluded from the computation of diluted net loss per share for the three months ended March 31, 2021. Accordingly, diluted earnings (loss) per share for continuing operations, discontinued operations and net income is the same as basic earnings (loss) per share for continuing operations, discontinued operations and net income for the three months ended March 31, 2022 and 2021.

	For the Three Months
(in thousands, except share and per share amounts)	Ended March 31,
	2022			2021
Loss from continuing operations, net of income taxes	$	(36,670	)	$	(16,309	)
Income from discontinued operations, net of income taxes		(953	)		(1,643	)
Net loss	$	(37,623	)	$	(17,952	)
Basic and diluted weighted average number of shares outstanding		83,126,709			44,564,868
Loss from continuing operations per common share - basic and diluted	$	(0.44	)	$	(0.36	)
Income from discontinued operations - basic and diluted		(0.01	)		(0.04	)
Loss per common share - basic and diluted	$	(0.45	)	$	(0.40	)