INCOME (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 30, 2023

Basic income (loss) per common share has been computed by dividing net income (loss) by the weighted-average number of shares of the Company’s common stock outstanding during the relevant period. Diluted income (loss) per common share adjusts net income (loss) and basic income (loss) 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 income (loss) per common share for the three and nine months ended September 30, 2023 and 2022 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands, except per share amounts)
Net income (loss) – Basic and Diluted	$	4,206	$	(6,358)	$	(11,119)	$	(9,438)
Weighted-average shares outstanding – Basic	21,216		21,522		21,188		21,602
Effect of dilutive securities:
Stock options and other stock awards	77		—		—		—
Weighted-average shares outstanding – Diluted	21,293		21,522		21,188		21,602
Basic income (loss) per common share	$	0.20	$	(0.30)	$	(0.52)	$	(0.44)
Diluted income (loss) per common share	$	0.20	$	(0.30)	$	(0.52)	$	(0.44)
Antidilutive Securities(1)	1,237		1,682		1,600		1,675

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