Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of basic and diluted earnings per share

The following table sets forth the calculation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2020			2019			2020			2019
Numerator:
Net income attributable to common stockholders - basic and diluted	$	589		$	2,884		$	2,220		$	12,022
Less: Earnings allocated to participating securities		(20	)		(26	)		(38	)		(125	)
	$	569		$	2,858		$	2,182		$	11,897

Denominator:
Weighted average shares outstanding - basic and diluted		46,055			45,899			46,008			45,871

Net income per common share, basic and diluted	$	0.01		$	0.06		$	0.05		$	0.26

Schedule of computation of diluted earnings per share

The Company had the following shares that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per share in future periods (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Warrants		21,250		21,250		21,250		21,250
Class C common shares		40,000		40,000		40,000		40,000
Total		61,250		61,250		61,250		61,250