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Earnings / (Loss) per share

6 Months Ended

Jun. 30, 2019

11. Earnings / (Loss) per Share:

The computation of basic earnings/(loss) per share is based on the weighted average number of common shares outstanding for the six-months ended June 30, 2018 and 2019. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed. Diluted earnings/(loss) per share gives effect to stock awards, stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. Diluted earnings per share for the six-months ended June 30, 2018 does not include the effect of 104,250 non-vested share options outstanding as of that date, as that effect was anti-dilutive. Diluted net loss per share for the six months ended June 30, 2019 does not include the effect of the 956,500 non-vested shares and of the 104,250 non-vested share options outstanding as that date, as their effect was anti-dilutive.

The Company calculates basic and diluted earnings / (loss) per share as follows:

		Six months ended June 30,
		2018		2019
Income / (Loss) :
Net income / (loss)	$	20,628	$	(45,515)


Basic earnings / (loss) per share:
Weighted average common shares outstanding, basic		64,170,654		92,457,415
Basic earnings / (loss) per share	$	0.32	$	-0.49

Effect of dilutive securities:
Dillutive effect of non vested shares		298,206		-
Weighted average common shares outstanding, diluted		64,468,860		92,457,415

Diluted earnings / (loss) per share	$	0.32	$	(0.49)