Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Earnings Per Share, Basic and Diluted

The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Net income (loss) - basic	$	7,969	$	16,477	$	(2,096)	$	16,542
Interest on dilutive convertible notes due 2025	—		2,762		—		8,286
Net income (loss) - diluted	$	7,969	$	19,239	$	(2,096)	$	24,828

Weighted average shares outstanding - basic	10,235		5,778		10,208		5,736
Dilutive effect of stock options and restricted stock	158		227		—		206
Dilutive effect of convertible notes due 2025	—		4,547		—		4,547
Weighted average shares outstanding - diluted	10,393		10,552		10,208		10,489

Earnings (loss) per share
Basic	$	0.78	$	2.85	$	(0.21)	$	2.88
Diluted	$	0.77	$	1.82	$	(0.21)	$	2.37