Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings per Share

11. 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):

	2021		2020
Numerator for both basic and diluted earnings per share:
Net income (loss)	$	9,004	$	(94,351)
Denominator, basic shares		18,164		18,137
Effect of dilutive securities:
Stock-based compensation awards		—		—
Denominator, diluted shares		18,164		18,137
Basic earnings (loss) per share:	$	0.50	$	(5.20)
Diluted earnings (loss) per share:	$	0.50	$	(5.20)

We had no shares of common stock potentially issuable upon exercise of employee stock options for year ended December 31, 2021. We had 14,157 shares of common stock potentially issuable upon exercise of employee stock options for year ended December 31, 2020, 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, expired in 2021.