Earnings per Common Share

12 Months Ended

Dec. 31, 2023

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 years ended December 31, 2023, 2022 and 2021, diluted net loss per share for these periods exclude the effects of all common stock equivalents, which are anti-dilutive.

A reconciliation of the shares included in the basic and fully diluted earnings per share calculations is as follows:


	Years Ended December 31,
(In thousands, except per share data)	2023		2022		2021
Net loss	$	(29,799)	$	(14,434)	$	(30,584)
Weighted average common shares outstanding:
Basic	40,193		40,143		39,614
Incremental shares with dilutive effect:
Restricted stock awards	—		—		—
Diluted	40,193		40,143		39,614

Net loss per share:
Basic	$	(0.74)	$	(0.36)	$	(0.77)
Diluted	$	(0.74)	$	(0.36)	$	(0.77)