Note 4 – Earnings Per Share

Basic earnings per share (“EPS”) is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common and common equivalent shares outstanding during the period and is calculated using the treasury stock method for equity-based compensation awards.

The following table sets forth the computation of basic and diluted EPS and a reconciliation of the weighted average number of common and common equivalent shares outstanding:



	Quarter Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except share data)	2019		2018		2019		2018
Numerator:
Net income (loss) attributable to RDI common stockholders	$	902	$	1,297	$	1,215	$	9,405
Denominator:
Weighted average number of common stock – basic		22,546,827		23,006,040		22,791,530		22,988,227
Weighted average dilutive impact of awards		141,403		191,884		161,308		196,794
Weighted average number of common stock – diluted		22,688,230		23,197,924		22,952,838		23,185,021
Basic earnings (loss) per share attributable to RDI common stockholders	$	0.04	$	0.06	$	0.05	$	0.41
Diluted earnings (loss) per share attributable to RDI common stockholders	$	0.04	$	0.06	$	0.05	$	0.41
Awards excluded from diluted earnings (loss) per share		516,010		276,681		516,010		126,840

Our weighted average number of common stock - basic decreased, primarily as a result of the repurchase of shares of Class A Non-Voting Common Stock pursuant to our current stock repurchase program offset by the issuance of shares due to the exercise of share options and vesting of restricted stock units. During the first nine months of 2019, we repurchased 856,563 shares of Class A Non-Voting Common Stock at an average price of $13.20 per share.