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Earnings (Loss) Per Common Share (EPS)

6 Months Ended

Jun. 30, 2020

Earnings Per Share, Basic and Diluted [Abstract]

11. Earnings (Loss) Per Common Share (EPS). The computation of weighted average shares outstanding and the basic and diluted earnings (loss) per common share consisted of the following (in thousands, except per share amounts):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Net income (loss)	$	(19,058)	$	6,859	$	(22,212)	$	13,054
Average common shares outstanding		55,406		55,017		55,326		54,967
Basic EPS	$	(0.34)	$	0.12	$	(0.40)	$	0.24

Average common shares outstanding		55,406		55,017		55,326		54,967
Effect of dilutive stock options ⁽¹⁾		—		1,538		—		1,556
Total potential shares outstanding		55,406		56,555		55,326		56,523
Diluted EPS	$	(0.34)	$	0.12	$	(0.40)	$	0.23

Stock options excluded as the impact was anti-dilutive⁽¹⁾		4,224		1,185		4,282		1,081

(1)

For the three and six-month periods ended June 30, 2020, 2,271 and 2,256 outstanding stock options, respectively, were considered antidilutive due to the net loss in each period. Independent of the net loss incurred, the potentially dilutive effect of these options would have been 844 and 807 shares, respectively.