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Earnings per Common Share
 9 Months Ended
Sep. 30, 2021
Earnings per Common Share  
Earnings per Common Share

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, 2021 and September

30, 2020, diluted net loss per share for these periods excludes the effects of common stock equivalents, which are anti-dilutive.

The details of the earnings per share calculations for the three and nine months ended September 30, 2021 and 2020 are as follows:

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Three months ended

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Nine months ended

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September 30, 

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September 30, 

    

in thousands, except per share data

    

2021

    

2020

    

2021

    

2020

​

Net loss

​

$

(975)

​

$

(1,678)

​

$

(16,811)

​

$

(3,699)

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Weighted average common shares outstanding:

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​

 

  

​

 

  

​

 

  

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Basic

​

 

39,629

​

 

40,033

​

 

39,688

​

 

40,050

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Incremental shares with dilutive effect:

​

 

  

​

 

​

​

 

​

​

 

  

​

Restricted stock awards

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—

​

 

—

​

 

—

​

 

—

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Diluted

​

 

39,629

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40,033

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39,688

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40,050

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​

​

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Net loss per share:

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​

 

  

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Basic

​

$

(0.02)

​

$

(0.04)

​

$

(0.42)

​

$

(0.09)

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Diluted

​

$

(0.02)

​

$

(0.04)

​

$

(0.42)

​

$

(0.09)

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​