Earnings Per Share

12 Months Ended

Dec. 31, 2019

12.Earnings Per Share:

We have adopted the provisions of ASC 260, “Earnings Per Share,” requiring presentation of both basic and diluted earnings per share. A reconciliation of the numerators and denominators of the basic and diluted per share calculations is presented below (in thousands, except per share amounts):


	2019		2018
Numerator for both basic and diluted earnings per share:
Net (loss) income	$	(625)	$	10,347

Denominator, basic shares		18,107		18,086
Effect of dilutive securities:
Stock-based compensation awards		—		115
Denominator, diluted shares		18,107		18,201

Basic (loss) earnings per share:	$	(0.03)	$	0.57

Diluted (loss) earnings per share:	$	(0.03)	$	0.57

We had 14,157 and 32,164 shares of common stock potentially issuable upon exercise of employee stock options for years ended December 31, 2019 and 2018, respectively, that were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive. These instruments, to the extent not previously cancelled or exercised, expire in 2021.