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Net Income (Loss) Per Common Share
 9 Months Ended
Sep. 30, 2020
Net income (loss) per common share  
Net Income (Loss) Per Common Share
4. NET INCOME (LOSS) PER COMMON SHARE
 
 
The following table
 
sets forth the
 
computation of basic
 
and diluted earnings
 
per share using
 
the two-class method
 
for amounts
attributable to the Company's
 
common shares. The Company
 
uses the two-class method
 
to calculate basic and
 
diluted earnings
per share as a result of outstanding participating securities in the form of
 
restricted stock awards.
Three months ended
Nine Months Ended
September 30,
September 30,
2020
2019
2020
2019
Net income (loss)
$
3,343,000
$
(6,125,000)
$
9,032,000
$
(9,761,000)
Less: net income allocated to participating securities
206,000
—
558,000
—
Net income (loss) available to common shareholders
$
3,137,000
$
(6,125,000)
$
8,474,000
$
(9,761,000)
Weighted average common
 
shares outstanding — basic
7,969,000
7,851,000
7,922,000
7,804,000
Effect of dilutive securities
—
—
—
—
Weighted average common
 
and potentially issuable
common shares outstanding — diluted
7,969,000
7,851,000
7,922,000
7,804,000
Basic net income (loss) per common share
$
0.39
$
(0.78)
$
1.07
$
(1.25)
Diluted net income (loss) per common share
$
0.39
$
(0.78)
$
1.07
$
(1.25)