EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of the basic and diluted earnings (loss) per share for the three months ended March 31, 2019 and 2020 (in thousands, except per share data):



	Three Months Ended March 31,
	2019			2020
Numerator for basic and diluted earnings per share:
Net income (loss)	$	6,525		$	(4,197	)
Less: Loss (earnings) allocated to unvested restricted stock	(33		)	13
Income (loss) attributable to common stockholders	$	6,492		$	(4,184	)

Denominator:
Denominator for basic earnings per common share - weighted average shares outstanding	18,057			17,805
Effect of dilutive securities:
Stock options	40			—
Denominator for diluted earnings per common share - weighted average shares outstanding	18,097			17,805

Basic earnings (loss) per common share:	$	0.36		$	(0.23	)
Diluted earnings (loss) per common share:	$	0.36		$	(0.23	)

For the three months ended March 31, 2019 and 2020, there were no shares that would have been issued upon conversion of our Convertible Notes as a result of the application under the if-converted method prescribed by the FASB ASC 260, Earnings Per Share for the fully diluted weighted average shares outstanding and the corresponding calculation of fully diluted earnings per share.

For the three months ended March 31, 2019 and 2020, there were 1,307,000 and 1,034,000 stock options, respectively, excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect. For the three months ended March 31, 2020, 27,000 shares were excluded from the computation of diluted per share amounts because the loss attributable to common stockholders was a loss, not income.