8. NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average shares outstanding. Diluted income (loss) per share is computed by dividing the net income (loss) by the weighted average diluted shares outstanding.

The computation of basic and diluted income (loss) per share is as follows (in thousands, except share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Net income (loss)	$	1,998	$	(5,171)	$	(9,385)	$	(12,591)
Weighted average common shares outstanding:
Basic		23,222,045		22,926,764		23,152,776		22,901,558
Dilutive common stock options, restricted stock unit awards and restricted stock awards		115,858		—		—		—
Diluted		23,337,903		22,926,764		23,152,776		22,901,558
Basic income (loss) per share of common stock	$	0.09	$	(0.23)	$	(0.41)	$	(0.55)
Diluted income (loss) per share of common stock	$	0.09	$	(0.23)	$	(0.41)	$	(0.55)

The Company had net income for the three months ended September 30, 2019 and had 115,858 dilutive restricted stock unit awards and no dilutive common stock options or restricted stock awards for that period. The Company had a net loss for the nine months ended September 30, 2019 and the three and nine months ended September 30, 2018. As a result, all stock options, restricted stock unit awards and restricted stock awards were anti-dilutive and excluded from weighted average shares used in determining the diluted loss per share of common stock for those periods.

The following weighted average numbers of stock options, restricted stock unit awards and restricted stock awards, in each case as adjusted for the 5% stock dividend paid to shareholders on May 29, 2018, have been excluded from the calculation of diluted income (loss) per share of common stock, as their effect would be anti-dilutive for the three and nine months ended September 30, 2019 and 2018:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019			2018
			(as adjusted)				(as adjusted)
Stock options		—		236,168		67,625		260,251
Restricted stock units		103,484		651,482		471,624		522,333
Restricted stock awards		—		65,974		10,874		67,416
Total		103,484		953,624		550,123		850,000