EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2024

EARNINGS PER SHARE

Schedule of calculation of earnings (loss) per share

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2024		2023
Basic:
Net (loss) income	$	(31,203)	$	22,811
Less: Preferred stock dividend		(5,632)		(1,492)
Less: Undistributed earnings allocable to preferred stockholders		—		(120)
Net (loss) income available to common stockholders	$	(36,835)	$	21,199
Weighted average basic number of common shares outstanding basic		16,457		16,393
Basic net (loss) income per share of common stock	$	(2.24)	$	1.29
Diluted:
Net (loss) income available to common stockholders basic	$	(36,835)	$	21,199
Reallocation of undistributed earnings		—		1
Net (loss) income available to common stockholders diluted	$	(36,835)	$	21,200
Weighted average basic number of common shares outstanding basic		16,457		16,393
Common stock equivalent shares representing shares issuable upon:
Exercise of stock options		Anti-dilutive		Anti-dilutive
Vesting of restricted stock units		Anti-dilutive		142
Weighted average diluted number of common shares outstanding diluted		16,457		16,535
Diluted net (loss) income per share of common stock	$	(2.24)	$	1.28