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EARNINGS PER SHARE (Tables) | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following table summarizes the calculation of earnings per share:
| Quarter Ended June 30, |  | Six Months Ended June 30,
(in thousands, except share and per share data) | 2023 |  | 2022 |  | 2023 |  | 2022
Net income (loss) | $ | (31,442) |  |  | $ | 17,721 |  |  | $ | (26,384) |  |  | $ | 37,672 |
Weighted average shares: |  |  |  |  |  |  |
Basic weighted-average number of common shares outstanding | 18,775,022 |  |  | 18,706,953 |  |  | 18,765,292 |  |  | 19,143,925 |
Dilutive effect of outstanding common stock equivalents | — |  |  | 127,490 |  |  | — |  |  | 166,825 |
Diluted weighted-average number of common shares outstanding | 18,775,022 |  |  | 18,834,443 |  |  | 18,765,292 |  |  | 19,310,750 |
Net income (loss) per share: |  |  |  |  |  |  |
Basic earnings per share | $ | (1.67) |  |  | $ | 0.95 |  |  | $ | (1.41) |  |  | $ | 1.97 |
Diluted earnings per share (1) | (1.67) |  |  | 0.94 |  |  | (1.41) |  |  | 1.95 |
(1) Excluded from the computation of diluted earnings per share (due to their antidilutive effect) for the quarters and six months ended June 30, 2023 and 2022 were certain unvested RSUs and PSUs. On a weighted average basis, 248,840 and 71,216 unvested stock units convertible into shares of common stock were excluded at June 30, 2023 and 2022, respectively, because their effect would have been anti-dilutive.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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