Earnings and Dividends per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings and Dividends per Share

9. Earnings and Dividends per Share

The computational components of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2019 and 2018 are below.

	For the three-month period ended June 30,
	2019		2018
(table only in thousands) Numerator (for basic and diluted earnings (loss) per share)
Net income (loss)	$	5,515	$	(901	)
Denominator
Basic weighted-average shares outstanding		34,924		34,670
Common stock equivalents arising from stock options and restricted stock awards		659		—
Diluted weighted-average shares outstanding		35,583		34,670

	For the six-month period ended June 30,
	2019		2018
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	7,379	$	4,862
Denominator
Basic weighted-average shares outstanding		34,880		34,632
Common stock equivalents arising from stock options and restricted stock awards		592		83
Diluted weighted-average shares outstanding		35,472		34,715

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended June 30, 2019 and 2018, 0.4 million and 0.6 million, respectively, and during the six-month periods ended June 30, 2019 and 2018, 0.5 million and 0.6 million, respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.