EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

12. EARNINGS PER SHARE

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):


	Three Months Ended
	March 31,
	2021		2020
Basic:
Net income (loss)	$	(33,375)	$	114,491
Weighted average basic number of common shares outstanding		16,232		16,204
Basic net income (loss) per share of common stock	$	(2.06)	$	7.07
Diluted:
Net income (loss)		(33,375)		114,491

Weighted average basic number of common shares outstanding		16,232		16,204
Common stock equivalent shares representing shares issuable upon:
Exercise of Series A Warrants		Anti-dilutive		Anti-dilutive
Exercise of Series B Warrants		Anti-dilutive		Anti-dilutive
Exercise of Series C Warrants		Anti-dilutive		Anti-dilutive
Exercise of stock options		Anti-dilutive		Anti-dilutive
Vesting of restricted stock units		Anti-dilutive		Anti-dilutive
Weighted average diluted number of common shares outstanding		16,232		16,204
Diluted net income (loss) per share of common stock	$	(2.06)	$	7.07

Common stock equivalents, including warrants, options and restricted stock units, totaling 7.8 million for the three months ended March 31, 2021 were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive due to the net loss.

Common stock equivalents, including warrants, options and restricted stock units, totaling 7.3 million for the three months ended March 31, 2020 were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive.