XML 32 R21.htm IDEA: XBRL DOCUMENT

Earnings per Share

9 Months Ended

Sep. 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 nine months ended September 30, 2020, diluted net loss per share for these periods excludes the effects of common stock equivalents, which are anti-dilutive. For the three and nine months ended September 30, 2019, the anti-dilutive effect of our securities is immaterial.

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


	September 30,				September 30,
in thousands, except per share data	2020		2019		2020		2019
Net income (loss)	$	(1,678)	$	11,847	$	(3,699)	$	3,280
Weighted average common shares outstanding:
Basic		40,033		40,062		40,050		40,037
Incremental shares with dilutive effect:
Restricted stock awards		—		67		—		62
Diluted		40,033		40,129		40,050		40,099

Net income (loss) per share:
Basic	$	(0.04)	$	0.30	$	(0.09)	$	0.08
Diluted	$	(0.04)	$	0.30	$	(0.09)	$	0.08