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Earnings per Share

6 Months Ended

Jun. 30, 2020

Note 13 – 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 and six months ended June 30, 2020, and the three and six months ended June 30, 2019, diluted net loss per share for this period excludes the effects of all common stock equivalents, which are anti-dilutive.

The details of the earnings per share calculations for the three and six months ended June 30, 2020 and 2019 are as follows:


	June 30,				June 30,
in thousands, except per share data	2020		2019		2020		2019
Net loss	$	(2,025)	$	(2,511)	$	(2,021)	$	(8,567)
Weighted average common shares outstanding:
Basic		40,028		40,038		40,059		40,037
Incremental shares with dilutive effect:
Restricted stock awards		—		—		—		—
Diluted		40,028		40,038		40,059		40,037

Net income (loss) per share:
Basic	$	(0.05)	$	(0.06)	$	(0.05)	$	(0.21)
Diluted	$	(0.05)	$	(0.06)	$	(0.05)	$	(0.21)