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 June 30, 2018, and the three and six months ended June 30, 2019, diluted net loss per share for these periods exclude 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, 2019 and 2018 are as follows:


	Three months ended				Six months ended
	June 30,				June 30,
in thousands, except per share data	2019		2018		2019		2018
Net income (loss)	$	(2,461)	$	(1,002)	$	(8,133)	$	790
Weighted average common shares outstanding:
Basic		40,038		39,908		40,037		39,902
Incremental shares with dilutive effect:
Restricted stock awards		—		—		—		113
Diluted		40,038		39,908		40,037		40,015

Net income (loss) per share:
Basic	$	(0.06)	$	(0.03)	$	(0.20)	$	0.02
Diluted	$	(0.06)	$	(0.03)	$	(0.20)	$	0.02