Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2020

4. Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019

	(In thousands, except per share amounts)
Numerator:
Net earnings (loss)	$	(5,869)	$	6,585	$	(13,590)	$	12,067

Denominator:
Basic weighted average shares outstanding		9,756		9,912		9,760		9,933
Effect of dilutive securities:
Employee share-based awards		—		17		—		63
Diluted weighted average shares outstanding		9,756		9,929		9,760		9,996

Basic earnings (loss) per share	$	(0.60)	$	0.66	$	(1.39)	$	1.21

Diluted earnings (loss) per share	$	(0.60)	$	0.66	$	(1.39)	$	1.21

The three and nine months ended September 30, 2020, resulted in a net loss; therefore, there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive. Diluted weighted average shares outstanding for the three months ended September 30, 2020, excludes anti-dilutive share-based awards totaling 1,169,000 shares of common stock at a weighted average price of $24.71. Diluted weighted average shares outstanding for the nine months ended September 30, 2020, excludes anti-dilutive share-based awards totaling 1,181,000 shares of common stock at a weighted average price of $26.06. Diluted weighted average shares outstanding for the three months ended September 30, 2019, excludes anti-dilutive share-based awards totaling 1,382,000 shares of common stock at a weighted average price of $26.56. Diluted weighted average shares outstanding for the nine months ended September 30, 2019, excludes anti-dilutive share-based awards totaling 696,000 shares of common stock at a weighted average price of $28.51.