Earnings per Share

6 Months Ended

Jun. 30, 2023

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 six months ended June 30, 2023 and 2022, diluted net loss per share for the period excludes 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, 2023 and 2022 are as follows:


	Three Months Ended June 30,				Six months ended June 30,
(In thousands, except per share data)	2023		2022		2023		2022
Net loss	$	(17,751)	$	(9,350)	$	(26,107)	$	(4,136)
Weighted average common shares outstanding:
Basic	40,399		40,157		40,435		39,870
Incremental shares with dilutive effect:
Restricted stock awards	—		—		—		—
Diluted	40,399		40,157		40,435		39,870

Net loss per share:
Basic	$	(0.44)	$	(0.23)	$	(0.65)	$	(0.10)
Diluted	$	(0.44)	$	(0.23)	$	(0.65)	$	(0.10)