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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

(7) EARNINGS PER SHARE

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding and the number of dilutive potential common share equivalents during the period, calculated using the treasury-stock method for outstanding stock options. In periods of losses, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential common shares outstanding would be anti-dilutive.

The calculation of basic and diluted earnings per share for the three and six months ended June 30, 2022 and 2021 are as follows (in thousands, except per share data):


		For the Three Months Ended June 30,						For the Six Months Ended June 30,
		2022			2021			2022			2021
Basic earnings per share
Net income (loss) available to common stockholders		$	3,346		$	2,808			4,723			2,102
Basic weighted-average shares outstanding			38,851			38,291			39,305			38,306

Basic earnings (loss) per share		$	0.09		$	0.07			0.12			0.05

Diluted earnings per share
Net income (loss) available to common stockholders		$	3,346		$	2,808			4,723			2,102
Weighted-average shares outstanding			38,851			38,291			39,305			38,306
Effect of dilutive securities - options and restricted stock			1,042			850			1,062			886
Diluted weighted-average shares outstanding			39,893			39,141			40,367			39,192

Diluted earnings (loss) per share		$	0.08		$	0.07			0.12			0.05

For the three and six months ended June 30, 2022, options to purchase 0.3 million and 0.3 million shares, respectively, of common stock were excluded from the dilutive stock calculation because their effect would have been anti-dilutive.

For the three and six months ended June 30, 2021, options to purchase 0.1 million and 0.2 million shares, respectively, of common stock were excluded from the dilutive stock calculation because their effect would have been anti-dilutive.