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Earnings per Share

9 Months Ended

Sep. 30, 2019

9.	Earnings per Share

The computational components of basic and diluted earnings (loss) per share for the three-month and nine-month periods ended September 30, 2019 and 2018 are below.

	For the three-month period ended September 30,
	2019		2018
(table only in thousands) Numerator (for basic and diluted earnings (loss) per share)
Net income (loss)	$	1,931	$	(12,915	)

Denominator
Basic weighted-average shares outstanding		35,070		34,779
Common stock equivalents arising from stock options and restricted stock awards		555		—
Diluted weighted-average shares outstanding		35,625		34,779

	For the nine-month period ended September 30,
	2019		2018
(table only in thousands) Numerator (for basic and diluted earnings (loss) per share)
Net income (loss)	$	9,310	$	(8,053	)

Denominator
Basic weighted-average shares outstanding		34,944		34,681
Common stock equivalents arising from stock options and restricted stock awards		579		—
Diluted weighted-average shares outstanding		35,523		34,681

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended September 30, 2019 and 2018, 0.4 million and 0.9 million, respectively, and during the nine-month periods ended September 30, 2019 and 2018, 0.5 million and 0.8 million, respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.