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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The following table presents the basic and diluted earnings per share calculations for the three and six months ended June 30, 2021 and 2020:

		Three Months Ended June 30,							Six Months Ended June 30,
		2021			2020				2021			2020
		(In thousands, except per share data)							(In thousands, except per share data)
Basic EPS:
Net income		$	9,453		$	2,141			$	12,849		$	4,720
Less: deemed dividends on preferred stock			—			48,955				—			48,955
Net income attributable to common stockholders		$	9,453		$	(46,814	)		$	12,849		$	(44,235	)
Less: undistributed earnings attributable to participating securities			3,571			—				4,854			—
Net earnings attributable to common stockholders		$	5,882		$	(46,814	)		$	7,995		$	(44,235	)
Weighted average common shares outstanding			20,087			20,087				20,087			20,087
Basic earnings per common share		$	0.29		$	(2.33	)		$	0.40		$	(2.20	)
Diluted EPS:
Net income attributable to common stockholders		$	9,453		$	(46,814	)		$	12,849		$	(44,235	)
Weighted average common shares outstanding			20,087			20,087				20,087			20,087
Add dilutive effects for assumed conversion of Series A preferred stock			11,688			—				11,688			—
Add dilutive effects for warrants			1,985			—				1,786			—
Add dilutive effects for stock options			3			—				2			—
Add dilutive effects of unvested restricted stock awards			197			—				121			—
Weighted average diluted common shares outstanding			33,960			20,087				33,684			20,087
Diluted income per common share		$	0.28		$	(2.33	)		$	0.38		$	(2.20	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive (in thousands):

		Three Months Ended June 30,							Six Months Ended June 30,
		2021			2020				2021			2020
Shares underlying Series A Convertible Preferred Stock			—			11,688				—			11,688
Shares underlying warrants			—			3,013				—			3,013
Stock options		773				773				773			773
Unvested restricted stock awards			—		NA					—		NA
Share equivalents excluded from EPS			773			15,474				773			15,474

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- References

No definition available.

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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