Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Earnings (Loss) Per Share The Company computes basic earnings (loss) per share by dividing net income (loss) by the weighted-average common shares outstanding during the year. Diluted earnings (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 earnings (loss) per share for 2022 and 2021.

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


(in thousands, except per share basis)	For the Year Ended December 31,
	2022		2021
Numerator:


Net income (loss) – basic and diluted	$	11,270	$	(48,472)



Denominator:
Shares used in computing net income (loss) per share
Weighted-average common shares outstanding - basic	22,938		22,908
Effect of dilutive securities	10		—
Weighted-average common shares outstanding – diluted	22,948		22,908

Earnings (Loss) per common share
Earnings (Loss) per share of common stock – basic	$	0.49	$	(2.12)
Earnings (Loss) per share of common stock – diluted	$	0.49	$	(2.12)

The aggregate number of shares excluded from the diluted earnings (loss) per share calculations because they would have been anti-dilutive were 0.1 million and 0.2 million shares in 2022 and 2021, respectively. For the twelve months ended December 31, 2022 and 2021, SARs and RSAs were not included in the diluted earnings (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.