Note 7 - Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2020

Net Income (Loss) Per Share

The calculations of net income (loss) per share were as follows:

	Three Months Ended March 31,
	2020			2019
	(Unaudited - In thousands, except per share data)
Basic:
Net income (loss)	$	(16,008	)	$	21,663
Weighted average common shares outstanding		20,686			20,585
Net income (loss) per share	$	(0.77	)	$	1.05

Diluted:
Net income (loss) for dilutive share computation	$	(16,008	)	$	21,663

Number of shares used in basic per share computation		20,686			20,585
Unvested restricted stock and DSU's		—			—
Employee stock options		—			—
Weighted average common shares outstanding		20,686			20,585

Net income (loss) per dilutive share	$	(0.77	)	$	1.05

Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs).

If an equity method company has dilutive stock options, unvested restricted stock, DSUs or warrants, diluted net income (loss) per share is computed by

first

deducting the income attributable to the potential exercise of the dilutive securities of the company from net income (loss). Any impact is shown as an adjustment to net income (loss) for purposes of calculating diluted net income (loss) per share.

Diluted earnings per share do

not

reflect the following potential shares of common stock that would have an anti-dilutive effect or have unsatisfied performance or market conditions:

•

March 31, 2020

and

2019

, options to purchase

0.2

million and

0.3

million shares of common stock, respectively, at prices ranging from

$10.37

$18.45

and

$9.83

$19.41,

respectively, were excluded from the calculations.


	•	At March 31, 2020 and 2019 , unvested restricted stock, performance-based stock units and DSUs convertible into 0.3 million and 0.7 million shares of stock, respectively, were excluded from the calculations.