Earnings Per Share

6 Months Ended

Jun. 30, 2020

The following table presents the reconciliation of the numerator and denominator for calculating net income (loss) per share:


	Second Quarter						First Half
(In thousands, except per share data)	2020		2019		2020		2019
Numerator
Net income (loss) - basic and diluted	$	(26,244)	$	4,306	$	(38,392)	$	5,588

Denominator
Weighted average common shares outstanding - basic	89,981		89,806		89,813		89,958
Dilutive effect of stock options and restricted stock awards	—		1,900		—		2,082
Dilutive effect of Convertible Notes	—		—		—		—
Weighted average common shares outstanding - diluted	89,981		91,706		89,813		92,040

Net income (loss) per common share
Basic	$	(0.29)	$	0.05	$	(0.43)	$	0.06
Diluted	$	(0.29)	$	0.05	$	(0.43)	$	0.06

We excluded the following weighted-average potential shares from the calculations of diluted net income (loss) per share during the applicable periods because their inclusion would have been anti-dilutive:


	Second Quarter			First Half
(In thousands)	2020	2019	2020	2019
Stock options and restricted stock awards	5,067	1,707	4,951	1,710

For the second quarter and first half of 2020, we excluded all potentially dilutive stock options and restricted stock awards in calculating diluted earnings per share as the effect was anti-dilutive due to the net loss incurred for these periods. The Convertible Notes (as defined in Note 7) only impact the calculation of diluted net income per share in periods that the average price of our common stock, as calculated in accordance with the terms of the indenture governing the Convertible Notes, exceeds the conversion price of $9.33 per share. We have the option to pay cash, issue shares of common stock, or any combination thereof for the aggregate amount due upon conversion of the Convertible Notes as further described in Note 7. If converted, we currently intend to settle the principal amount of the notes in cash and as a result, only the amounts payable in excess of the principal amount of the notes, if any, would be assumed to be settled with shares of common stock for purposes of computing diluted net income per share.