INCOME (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 30, 2022

(LOSS) INCOME PER COMMON SHARE

Basic (loss) income per common share has been computed by dividing net (loss) income by the weighted-average number of shares of the Company’s common stock outstanding during the relevant period. Diluted (loss) income per common share adjusts net (loss) income and basic (loss) income per common share for the effect of all potentially dilutive shares of the Company’s common stock. Anti-dilutive securities are not included in the computation of diluted earnings per share under the treasury stock method.

The calculations of basic and diluted (loss) income per common share for the three and nine months ended September 30, 2022 and 2021 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(in thousands, except per share amounts)
Net (loss) income – Basic and Diluted	$	(6,358)	$	12,571	$	(9,438)	$	21,427
Weighted-average shares outstanding – Basic	21,522		21,549		21,602		21,343
Effect of dilutive securities:
Stock options and other stock awards	—		536		—		621
Weighted-average shares outstanding – Diluted	21,522		22,085		21,602		21,964
Basic (loss) income per common share	$	(0.30)	$	0.58	$	(0.44)	$	1.00
Diluted (loss) income per common share	$	(0.30)	$	0.57	$	(0.44)	$	0.98
Antidilutive Securities(1)	1,682		337		1,675		394

(1) Stock options and other stock awards that have been excluded from the denominator as their inclusion would have been anti-dilutive.