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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE: The following table summarizes the calculation of earnings per share:
| Quarter Ended September 30, |  | Nine Months Ended September 30,
(in thousands, except share and per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income (loss) | $ | (7,282) |  |  | $ | 2,295 |  |  | $ | (21,017) |  |  | $ | (24,089) |
Weighted average shares: |  |  |  |  |  |  |
Basic weighted-average number of common shares outstanding | 18,857,565 |  |  | 18,792,893 |  |  | 18,857,335 |  |  | 18,774,593 |
Dilutive effect of outstanding common stock equivalents | — |  |  | — |  |  | — |  |  | — |
Diluted weighted-average number of common shares outstanding | 18,857,565 |  |  | 18,792,893 |  |  | 18,857,335 |  |  | 18,774,593 |
Net income (loss) per share: |  |  |  |  |  |  |
Basic earnings per share | $ | (0.39) |  |  | $ | 0.12 |  |  | $ | (1.11) |  |  | $ | (1.28) |
Diluted earnings per share (1) | (0.39) |  |  | 0.12 |  |  | (1.11) |  |  | (1.28) |
(1) Excluded from the computation of diluted earnings per share (due to their antidilutive effect) for the quarters and nine months ended September 30, 2024 and 2023 were certain unvested RSUs and PSUs. On a weighted average basis 558,665 and 236,628 unvested stock units convertible into shares of common stock were excluded at September 30, 2024 and 2023, respectively, because their effect would have been anti-dilutive.

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