NET INCOME (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2021

Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of common shares outstanding during the period combined with the incremental average common shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. The calculation of basic and diluted net income (loss) per share is determined using net income (loss) applicable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts). Due to the net loss applicable to common stockholders for the three-month period ended March 31, 2020, no securities had a dilutive impact for this period.


	Three Months Ended March 31,
	2021		2020
Basic net income (loss) per share:
Net income (loss) applicable to common stockholders	$	3,217	$	(106,647)
Weighted average common shares outstanding	52,126		53,156
Basic net income (loss) per share	$	0.06	$	(2.01)

Diluted net income (loss) per share:
Net income (loss) applicable to common stockholders	$	3,217	$	(106,647)

Weighted average common shares outstanding	52,126		53,156
Dilutive stock options and restricted stock	918		—
Diluted weighted average common shares outstanding	53,044		53,156
Diluted net income (loss) per share	$	0.06	$	(2.01)