Note F - Earnings Per Share

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE F—EARNINGS PER SHARE

Basic net income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from options and restricted stock units outstanding during the period. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and dilutive earnings per share are the same.

The following table presents the computation of the basic and diluted net income (loss) per share for the periods indicated (in thousands):

	Year ended December 31,
	2019			2018			2017
Numerator:
Net income (loss)	$	(66,049	)	$	(2,146	)	$	73,951
Denominator:
Weighted average shares used to compute net income (loss) per share
Basic		19,982			19,647			19,097
Effect of dilutive options and restricted stock units		—			—			1,042
Diluted		19,982			19,647			20,139
Net income (loss) per share
Basic	$	(3.31	)	$	(0.11	)	$	3.87
Diluted	$	(3.31	)	$	(0.11	)	$	3.67

The following potentially dilutive securities were excluded from diluted net income (loss) per share as their effect would have been antidilutive (in thousands):

	As of As of December 31,
	2019		2018
Employee stock options		44		263
Restricted stock units		1		117
Shares for convertible senior notes		4,587		—
Total antidilutive shares		4,632		380