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EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

16. EARNINGS PER SHARE

The following table sets forth the computations of basic and diluted earnings per share for the years ended December 31, 2020 and 2019:

​	​	​	​	​	​	​
​		2020			2019
​	​	(In thousands, except per share amounts)
Numerator:		​			​
Net earnings (loss)	​	$	(8,485)	​	$	20,882
​	​	​	​	​	​	​
Denominator:	​			​
Basic weighted average shares outstanding	​		9,757	​		9,904
Effect of dilutive securities:	​			​
Employee share-based awards	​		—	​		49
Diluted weighted average shares outstanding	​		9,757	​		9,953
​	​	​	​	​	​	​
Basic earnings (loss) per share	​	$	(0.87)	​	$	2.11
​	​	​	​	​	​	​
Diluted earnings (loss) per share	​	$	(0.87)	​	$	2.10

​

The year ended December 31,2020, 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 2020 exclude anti-dilutive share-based awards totaling 1,232,000 shares at a weighted average price of $25.35. Diluted weighted average shares outstanding for 2019 excludes anti-dilutive share-based awards totaling 825,000 shares at a weighted average price of $27.98.

Unvested restricted stock awards provide holders with dividend rights prior to vesting, however, such rights are forfeitable if the awards do not vest. As a result, unvested restricted stock awards are not participating securities and are excluded from the computation of earnings per share.

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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