Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2023

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


	Three Months Ended March 31,
(in thousands, except per share data)	2023		2022
Numerator:
Net income (loss)	$	(5,199)	$	10,260
Denominator:
Denominator for basic earnings (loss) per share - weighted average shares	10,148		10,209
Effect of dilutive securities:
Employee stock options and stock grants	—		111
Denominator for diluted earnings (loss) per share - weighted average shares	10,148		10,320









Net income (loss) per share:
Basic	$	(0.51)	$	1.00
Diluted	$	(0.51)	$	0.99

The diluted earnings (loss) per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had 0.1 million shares that were anti-dilutive for the three months ended March 31, 2023. The Company had an immaterial number of shares of common stock that were anti-dilutive for the three months ended March 31, 2022.