EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive restricted stock. The computation of diluted earnings (loss) per share does not assume conversion, exercise or contingent issuance of securities that would have an antidilutive effect on loss per share.

The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator:	2018		2017		2018		2017
Net income (loss)	$	3,300	$	409	$	6,879	$	(7,325	)
Denominator:
Denominator for basic earnings (loss) per share – weighted average shares	8,223		8,027		8,170		8,029
Effect of dilutive securities:
Employee restricted stock	17		12		23		—
Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion	8,240		8,039		8,193		8,029
Basic earnings (loss) per share	$	0.40	$	0.05	$	0.84	$	(0.91	)
Diluted earnings (loss) per share	$	0.40	$	0.05	$	0.84	$	(0.91	)
Weighted average anti-dilutive employee restricted stock	106		—		72		2