Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six months ended June 30,
	2020		2021		2020		2021
Numerator for basic and diluted earnings per share:
Net income (loss)	$	6,397	$	(6,167)	$	2,200	$	6,766
Less: Loss (earnings) allocated to unvested restricted stock	(18)		8		(8)		(13)
Income (loss) attributable to common stockholders	$	6,379	$	(6,159)	$	2,192	$	6,753

Denominator:
Denominator for basic earnings per common share - weighted average shares outstanding	17,860		17,967		17,833		17,966
Effect of dilutive securities:
Stock options	29		213		29		232

Performance awards	—		331		—		166
Denominator for diluted earnings per common share - weighted average shares outstanding	17,889		18,511		17,862		18,364

Basic earnings (loss) per common share:	$	0.36	$	(0.34)	$	0.12	$	0.38
Diluted earnings (loss) per common share:	$	0.36	$	(0.33)	$	0.12	$	0.37

For the three and six months ended June 30, 2020 there were 1,017,383 and 1,025,734 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 and six months ended June 30, 2021, no stock options were excluded from the computation of diluted earnings per share.

Our performance awards are considered to be contingently issuable shares because their issuance is contingent upon the satisfaction of certain performance and service conditions. On April 1, 2021, our stock price reached $35.80 for an average of twenty days, thus meeting the performance criteria for the first tranche of performance awards to be considered outstanding and therefore, included in the computation of diluted earnings per share as of the beginning of the reporting period.