Note 10 – Earnings per Share

In connection with the 2009 Equity Incentive Plan, during the six months ended June 30, 2018, we issued 163 shares of restricted common stock for awards granted in 2018. There were no performance shares related to awards provisioned in prior years.

Basic earnings per share is based on the weighted average number of shares outstanding and excludes the dilutive effect of common stock equivalents. Diluted earnings per share is based on the weighted average number of shares outstanding and includes the dilutive effect of common stock equivalents to the extent they are not anti-dilutive. Because the Company is in a net loss position for the three months ended June 30, 2018, diluted net loss per share for this period excludes the effects of common stock equivalents, which are anti-dilutive.

The details of the earnings per share calculations for the three and six months ended June 30, 2018 and 2017 are as follows:


	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (loss)	$	(1,002)	$	110	$	790	$	683
Weighted average common shares outstanding:
Basic		39,908		39,797		39,902		39,783
Incremental shares with dilutive effect:
Restricted stock awards		—		45		113		60
Diluted		39,908		39,842		40,015		39,843

Net income (loss) per share:
Basic	$	(0.03)	$	0.00	$	0.02	$	0.02
Diluted	$	(0.03)	$	0.00	$	0.02	$	0.02