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Earnings per Share
3 Months Ended
Mar. 31, 2019
Earnings per Common Share  
Earnings per Common Share

Note 11 – Earnings per Share (share counts in thousands)

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 March 31, 2019, 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 months ended March 31, 2019 and 2018 are as follows:

 

 

 

 

 

 

 

 

 

 

Three months ended

 

 

 

March 31, 

    

in thousands, except per share data

    

2019

    

2018

 

Net income (loss)

 

$

(5,671)

 

$

1,792

 

Weighted average common shares outstanding:

 

 

  

 

 

  

 

Basic

 

 

40,036

 

 

39,910

 

Incremental shares with dilutive effect:

 

 

 

 

 

  

 

Restricted stock awards

 

 

 —

 

 

149

 

Diluted

 

 

40,036

 

 

40,059

 

 

 

 

 

 

 

 

 

Net income (loss) per share:

 

 

  

 

 

  

 

Basic

 

$

(0.14)

 

$

0.04

 

Diluted

 

$

(0.14)

 

$

0.04