EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2019

Basic earnings (loss) per share is calculated by dividing net income (loss) for period by the weighted average number of common shares outstanding for the period. In computing dilutive earnings (loss) per share, basic earnings (loss) per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including common stock options, RSUs and warrants.

Below are basic and diluted earnings (loss) per share for the periods indicated (in thousands, except for share data):


	Year Ended December 31, 2019		Year Ended December 31, 2018		Period from February 1, 2017 to December 31, 2017
Net (income) loss for basic and diluted income (loss) per common share	$	19,609	$	(7,244)	$	(10,174)
Shares:
Weighted-average common shares outstanding – basic	37,428,345		25,484,386		17,227,682
Effect of dilutive securities
RSUs	12,416		—		—
Stock options	140,640		—		—
Warrants	12,757		—		—
Weighted-average common shares outstanding – diluted	37,594,158		25,484,386		17,227,682

Earnings (loss) per common share - basic and diluted	$	0.52	$	(0.28)	$	(0.59)

As of December 31, 2019, there were 0.5 million options and 19.0 thousand RSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive. The Warrants were included in the calculation of the diluted earnings per share for the periods for which they were outstanding; the shares issued in exchange for the Warrants tendered in the Offer have been included in the basic earnings per share beginning on the date the shares were issued.

As of December 31, 2018, there were 2.9 million options and 9.0 million warrants to purchase shares of the Company’s common stock and 21.2 thousand RSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As of December 31, 2017, there were no outstanding options or warrants to purchase shares of Company stock or RSUs.