NET INCOME (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

Basic earnings (loss) per common share exclude all common stock equivalents, primarily consisting of restricted stock awards, and is computed using the weighted average number of common shares outstanding during the period. The diluted earnings (loss) per common share calculation reflects the potential dilutive effect of securities that could share in earnings of the Company. As of September 30, 2020, there are no outstanding stock options. For periods prior to September 30, 2020 outstanding options were excluded from the diluted earnings (loss) per share calculation when they would have an anti-dilutive effect. Earnings per share are calculated as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Basic earnings (loss) per common share
Net income	$	1,549	$	579	$	1,952	$	1,207
Weighted average shares outstanding		5,184		5,134		5,184		5,134
Basic earnings (loss) per common share	$	0.30	$	0.11	$	0.38	$	0.24
Diluted earnings (loss) per common share
Net income	$	1,549	$	579	$	1,952	$	1,207
Weighted average shares outstanding		5,184		5,134		5,184		5,134
Dilutive effect of stock options and restricted stock		—		4		—		4
Total weighted average shares outstanding		5,184		5,138		5,184		5,138
Diluted earnings (loss) per common share	$	0.30	$	0.11	$	0.38	$	0.24