Three Months Ended

Six Months Ended

June 30,

2021

2020

2021

2020

Numerator:

(in thousands, except per share amounts)

Net income (loss)

$

4,193

$

(931)

$

7,790

$

(3,482)

Denominator:

Denominator for basic earnings (loss) per share – weighted average shares

8,806

8,820

8,826

8,737

Effect of dilutive securities:

Employee restricted stock and incentive stock options

141

—

150

—

Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion

8,947

8,820

8,976

8,737

Basic earnings (loss) per share

$

0.48

$

(0.11)

$

0.88

$

(0.40)

Diluted earnings (loss) per share

$

0.47

$

(0.11)

$

0.87

$

(0.40)

Weighted average anti-dilutive employee restricted stock and incentive stock options

114

348

126

393