EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

5. EARNINGS PER SHARE

Basic earnings per share (“EPS”) are computed based on the weighted average number of common shares outstanding during the period. Diluted EPS includes additional common shares that would have been outstanding if potential common shares with a dilutive effect, such as stock awards from the Company’s restricted stock plan, had been issued. Anti-dilutive securities represent potentially dilutive securities which are excluded from the computation of diluted EPS as their impact would be anti-dilutive. Diluted EPS is computed using the treasury stock method.

The following table sets forth the computation of basic and diluted EPS for the three months ended March 31, 2021 and 2020:

(in thousands, except share data)	Three Months Ended March 31,
	2021		2020
			(1)
Numerator:
Net income (loss)	$	745	$	(1,738	)

Denominator:
Basic weighted-average common shares outstanding		8,811,752		9,029,212
Diluted weighted-average common shares outstanding		8,811,752		9,029,212
(1) For the three months ended March 31, 2020, there were 492 shares excluded from the diluted EPS calculation because the impact of their assumed vesting would be anti-dilutive due to a net loss in that period.