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 the awards are 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 4— Acquisitions), 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 received cash for any fractional shares of the Company’s common stock to which they might otherwise have been 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 table below retroactively reflects, in accordance with ASC 505 “Equity,” the reverse stock split that occurred on February 28, 2019 for the three and nine months ended September 30, 2018. The following is a calculation of the basic and diluted weighted-average number of shares of common stock and EPS for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended September 30,
(in thousands, except per share data)	2019						2018
	Income		Shares		Per Share		Income		Shares		Per Share
Basic:
Net income, shares, basic	$	4,284		35,684	$	0.12	$	3,998		20,144	$	0.20
Weighted-average number of shares of common stock-diluted:
Restricted stock and performance unit awards		—		13				—		26
Diluted:
Net income, shares, diluted	$	4,284		35,697	$	0.12	$	3,998		20,170	$	0.20

	Nine Months Ended September 30,
(in thousands, except per share data)	2019						2018
	Income		Shares		Per Share		Loss			Shares		Per Share
Basic:
Net income (loss), shares, basic	$	17,698		32,343	$	0.55	$	(17,662	)		19,947	$	(0.89	)
Weighted-average number of shares of common stock-diluted:
Restricted stock and performance unit awards		—		127				—			—
Diluted:
Net income (loss), shares, diluted	$	17,698		32,471	$	0.55	$	(17,662	)		19,947	$	(0.89	)