Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2021

14. Net Income (Loss) Per Share

The following is a reconciliation of the weighted average common shares outstanding used to compute basic and diluted net income (loss) per common share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Basic weighted average common shares outstanding		34,903,657		34,519,889		34,856,950		34,827,582
Effect of dilutive securities - stock awards		698,385		—		603,829		—
Diluted weighted average common shares outstanding		35,602,042		34,519,889		35,460,779		34,827,582

Equity incentive instruments for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Anti-dilutive equity instruments of 337,541 and 444,998 common shares were excluded from diluted weighted average common shares outstanding for the three and six months ended June 30, 2021. Due to the net loss during the three and six months ended June 30, 2020, the assumed exercise of all equity instruments was anti-dilutive and, therefore, not included in the net diluted income (loss) per share calculations for those periods.

No cash dividends were declared or paid during the three and six months ended June 30, 2021 and 2020.