Loss Per Share

3 Months Ended

Mar. 31, 2022

Loss Per Share The Company computes basic loss per share by dividing net loss by the weighted-average common shares outstanding during the year. Diluted loss per share is calculated to give effect to all potentially dilutive common shares that were outstanding during the year. Weighted-average diluted common shares outstanding primarily reflect the additional shares that would be issued upon the assumed exercise of stock options and the assumed vesting of unvested share awards. The treasury stock method has been used to compute diluted loss per share for the three months ended March 31, 2022 and 2021.

The Company issued Stock Appreciation Rights (“SARs”) and Restricted Stock Awards (“RSAs”), all of which have been evaluated for their potentially dilutive effect under the treasury stock method. See Note 13. Stock-Based Compensation in the Company’s 2021 Annual Report for additional information on the SARs and the RSAs.

The computations of basic and diluted loss per share are as follows:


(in thousands, except per share basis)	For the Three Months Ended March 31,
		2022		2021
Numerator:
Net loss		$	(2,599)	$	(18,150)





Denominator:
Shares used in computing net loss per share:
Weighted-average common shares outstanding – basic		22,927		22,892
Effect of dilutive securities		—		—
Weighted-average common shares outstanding – diluted		22,927		22,892

Loss per common share:
Loss per share of common stock – basic		$	(0.11)	$	(0.79)
Loss per share of common stock – diluted		$	(0.11)	$	(0.79)

The aggregate number of shares excluded from the diluted loss per share calculations, because they would have been anti-dilutive, were 0.2 million for the three months ended March 31, 2022 and 2021. For the three months ended March 31, 2022 and 2021, SARs and RSAs were not included in the diluted loss per share calculations as they would have been anti-dilutive (1) due to the losses reported in the Consolidated Statements of Operations or (2) the Company’s average stock price was less than the exercise price of the SARs or the grant price of the RSAs.