Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2021

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,
	2021		2020		2021		2020

	(In thousands, except per share amounts)
Numerator:
Net earnings (loss)	$	5,069	$	(5,869)	$	10,214	$	(13,590)

Denominator:
Basic weighted average shares outstanding		9,655		9,756		9,663		9,760
Effect of dilutive securities:
Employee share-based awards		47		—		28		—
Diluted weighted average shares outstanding		9,702		9,756		9,691		9,760

Basic earnings (loss) per share	$	0.53	$	(0.60)	$	1.06	$	(1.39)

Diluted earnings (loss) per share	$	0.52	$	(0.60)	$	1.05	$	(1.39)

Diluted weighted average shares outstanding for the three months ended September 30, 2021 excludes anti-dilutive share-based awards totaling 1,127,000 shares of common stock at a weighted average price of $26.14. Diluted weighted average shares outstanding for the nine months ended September 30, 2021 excludes anti-dilutive share-based awards totaling 1,074,000 shares of common stock at a weighted average price of $25.95. Results for the three and nine month periods ended September 30, 2020 were net losses; 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.