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Earnings per Share
 9 Months Ended
Sep. 30, 2022
Earnings per Share  
Earnings per Share

Note 13 – Earnings per Share

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 was in a net loss position for the three and nine months ended September 30, 2022 and 2021, 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, 2022 and 2021 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)

    

2022

    

2021

    

2022

    

2021

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Net loss

​

$

(7,201)

​

$

(975)

​

$

(11,337)

​

$

(16,811)

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Weighted average common shares outstanding:

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​

 

  

​

 

  

​

 

  

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Basic

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39,723

​

 

39,629

​

 

39,801

​

 

39,688

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Incremental shares with dilutive effect:

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​

 

​

​

 

​

​

 

  

​

Restricted stock awards

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—

​

 

—

​

 

—

​

 

—

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Diluted

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39,723

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39,629

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39,801

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39,688

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​

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Net loss per share:

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Basic

​

$

(0.18)

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$

(0.02)

​

$

(0.28)

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$

(0.42)

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Diluted

​

$

(0.18)

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$

(0.02)

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$

(0.28)

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$

(0.42)

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