Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted EPS takes into account the dilutive effect of potential common stock that could be issued by the Company in conjunction with any stock awards that have been granted to directors and employees. In accordance with FASB ASC Topic 260, awards of non-vested shares shall be considered to be outstanding as of the grant date for purposes of computing diluted EPS even though their exercise is contingent upon vesting. During periods in which the Company incurs a net loss, diluted weighted-average shares outstanding are equal to basic weighted-average shares outstanding because the effect of all equity awards is antidilutive.

Effective immediately prior to the Effective Time on February 28, 2019 (See Note 3— Acquisition), the Company effected a 15-to-1 reverse stock split of its common stock. Holders of shares of the Company’s common stock immediately prior to the Effective Time will receive cash for any fractional shares of the Company’s common stock to which they might otherwise be entitled as a result of the reverse stock split. The reverse stock split lowered the par value to reflect the reduced shares with the offset to additional paid-in-capital. The below table retroactively reflects, in accordance with ASC 505 “Equity”, the stock split that occurred after the year ended December 31, 2018 for the years ended December 31, 2018, 2017, and 2016, respectively:

	Year Ended December 31,
(in thousands, except per share data)	2018						2017						2016
	Income (Loss)		Shares		Per Share		Income (Loss)		Shares		Per Share		Income (Loss)			Shares		Per Share
Basic:
Net income (loss), shares, basic	$	18,826		19,999	$	0.94	$	8,525		17,479	$	0.49	$	(206,735	)		16,096	$	(12.84	)
Weighted-average number of shares of common stock-diluted:
Restricted stock and performance unit awards		—		88				—		200				—			—
Diluted:
Net income (loss), shares, diluted	$	18,826		20,087	$	0.94	$	8,525		17,679	$	0.48	$	(206,735	)		16,096	$	(12.84	)