Earnings Per Share

3 Months Ended

Mar. 31, 2021

The following table sets forth the computation of the basic and diluted earnings per share (in thousands, except per share data):


	Three months ended March 31,
	2020		2021
Numerator for basic and diluted earnings per share:
Net income (loss)	$	(4,197)	$	12,933
Less: Loss (earnings) allocated to unvested restricted stock	13		(27)
Income (loss) attributable to common stockholders	$	(4,184)	$	12,906

Denominator:
Denominator for basic earnings per common share - weighted average shares outstanding	17,805		17,965
Effect of dilutive securities:
Stock options	—		234

Denominator for diluted earnings per common share - weighted average shares outstanding	17,805		18,199

Basic earnings (loss) per common share:	$	(0.23)	$	0.72
Diluted earnings (loss) per common share:	$	(0.23)	$	0.71

For the three months ended March 31, 2020 there were 1,034,084 stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect and 27,085 shares were excluded from the computation of diluted earnings per share amounts because the loss attributable to common stockholders was a loss, not income. For the three months ended March 31, 2021, no stock options were excluded from the computation of diluted earnings per share.