Earnings per Share

The computations of basic and diluted EPS are set forth below:



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2019			2018			2019				2018
	(in thousands, except per share amounts, unaudited)
Numerator for basic and diluted EPS — net income (loss)	$	14,929		$	11,217		$	(13,154	)		$	28,098
Denominator for basic EPS — weighted average number of shares	23,546			24,871			24,202				27,504
Add — dilutive effect of:
Restricted stock units	2		(1)	1,502		(2)	—			(1)	938		(2)
Denominator for diluted EPS — weighted average number of shares and dilutive securities	23,548			26,373			24,202				28,441
Earnings (loss) per share:
Basic EPS	$	0.63		$	0.45		$	(0.54	)		$	1.02
Diluted EPS	$	0.63		$	0.43		$	(0.54	)		$	0.99

The weighted average number of shares for basic EPS for the three and nine months ended September 30, 2019 and 2018 include 334,048 shares of common stock, which were issued to certain selling unitholders of Cogent in April 2019, due to the achievement of the Earnout for the two year period ended March 31, 2019. See “Note 4 — Fair Value of Financial Instruments” and “Note 7 — Equity”.

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(1) As a result of the loss in the year-to-date period, all unamortized restricted stock units, or 3,418,130 units, were antidilutive in the period. The three months ended September 30, 2019 excludes 3,370,991 unamortized restricted stock units that were antidilutive under the treasury stock method, and thus were not included in the above calculation. The incremental shares that could be included in the diluted EPS calculation in future periods will vary based on a variety of factors, including the future share price and the amount of unrecognized compensation cost. The incremental shares included, if any, would be less than the number of unamortized restricted stock units. If not for the loss in the year-to-date period, 317,263 restricted stock units would have been included in the denominator of diluted EPS for the nine months ended September 30, 2019.

(2) Excludes 189,749 and 696,417 unamortized restricted stock units that were antidilutive under the treasury stock method for the three and nine months ended September 30, 2018, respectively, and thus were not included in the above calculation. The incremental shares that could be included in the diluted EPS calculation in future periods will vary based on a variety of factors, including the future share price and the amount of unrecognized compensation cost. The incremental shares included, if any, would be less than the number of unamortized restricted stock units.