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Earnings Per Share

3 Months Ended

Mar. 31, 2021

Basic earnings per share is computed by dividing net income (loss) from continuing and discontinued operations by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net

income (loss) from continuing and discontinued operations by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows:


	Three Months Ended
	March 31,
(In thousands)		2021	2020
Weighted average shares outstanding used to compute basic earnings per share		33,406	33,313
Incremental dilutive shares attributable to stock options and restricted stock		238	—
Shares used to compute diluted earnings per share		33,644	33,313

Incremental shares attributable to stock options and restricted stock are computed under the treasury stock method using the average market price during the related period. The average out-of-the-money options to purchase shares that were excluded from the calculation of incremental shares attributable to stock options and restricted stock were 411,516 as of March 31, 2021. The Company had a net loss from continuing operations for the three months ended March 31, 2020, so there is no dilutive impact for such shares. If the Company had reported net income from continuing operations for the three months ended March 31, 2020, average out-of-the-money options to purchase shares that would have been excluded from the calculation of incremental shares attributable to stock options and restricted stock were 682,696.