Earnings Per Share

6 Months Ended

Jun. 30, 2021

4. Earnings Per Share

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands, except per share amounts)
Numerator:
Net earnings (loss)	$	3,820	$	(8,883)	$	5,145	$	(7,721)

Denominator:
Basic weighted average shares outstanding		9,654		9,745		9,667		9,763
Effect of dilutive securities:
Employee share-based awards		32		—		19		—
Diluted weighted average shares outstanding		9,686		9,745		9,686		9,763

Basic earnings (loss) per share	$	0.39	$	(0.91)	$	0.53	$	(0.79)

Diluted earnings (loss) per share	$	0.39	$	(0.91)	$	0.53	$	(0.79)

Diluted weighted average shares outstanding for the three months ended June 30, 2021, excluded anti-dilutive share-based awards totaling 937,000 shares of common stock at a weighted average price of $26.83. Diluted weighted average shares outstanding for the six months ended June 30, 2021, excluded anti-dilutive share-based awards totaling 1,048,000 shares of common stock at a weighted average price of $25.85. The three and six months ended June 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 and six months ended June 30, 2020, excluded anti-dilutive share-based awards totaling 1.2 million shares of common stock at a weighted average price of $26.74.