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Earnings Per Share

3 Months Ended

Mar. 31, 2020

9. ASC 260 Earnings Per Share (“EPS”) requires dual presentation of basic EPS and diluted EPS on the face of the condensed consolidated statements of operations. Basic EPS is computed as net income divided by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects potential dilution that could occur if securities or other contracts, which, for the Company, consist of options to purchase shares of the Company’s common stock, are exercised.

The components of basic and diluted earnings per share were as follows:

	Three Months Ended March 31,
	2020		2019
Numerator:
Net income	$	520	$	3,906
Denominator:
Weighted average shares outstanding-basic		29,288		28,977
Dilutive effect of stock options and grants		660		602
Weighted average shares outstanding-diluted		29,948		29,579

For the three months ended March 31, 2020 and 2019, no stock options were excluded from the computation of diluted earnings per share.