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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2020
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 9 — EARNINGS PER SHARE

 

The reconciliations between basic and diluted earnings (loss) per share are as follows (in thousands, except per share data):

 

 

 

 

 

 

 

Three Months Ended March 31,

 

2020

    

2019

Net income (loss)

$

60,242

 

$

(37,209)

 

 

 

 

 

 

Weighted average shares:

 

 

 

 

 

    Weighted average common shares outstanding, basic

 

6,874,848

 

 

6,873,950

Diluted effect of Incremental shares related to restricted share units (1)

 

 6

 

 

 —

   Weighted average common shares outstanding, diluted

 

6,874,854

 

 

6,873,950

 

 

 

 

 

 

  Net income (loss) per share:

 

 

 

 

 

Basic

$

8.76

 

$

(5.41)

Diluted

$

8.76

 

$

(5.41)

 

(1)

For the three months ended March 31, 2019, the Company had a net loss and therefore the diluted earnings per share calculation for that period excludes anti-dilutive shares of 277 shares of service-based awards.