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Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share

Note 19 – Earnings (Loss) per Share

The calculations of basic and diluted earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018 are as follows:

 

(In thousands, except for per share amounts)

 

2020

 

 

2019

 

 

2018

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$

2,378

 

 

$

(52,982

)

 

$

(19,342

)

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares – basic

 

 

47,996

 

 

 

47,836

 

 

 

47,880

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

—

 

 

 

—

 

 

 

—

 

PSUs, RSUs and restricted stock

 

 

292

 

 

 

—

 

 

 

—

 

Weighted average number of shares – diluted

 

 

48,288

 

 

 

47,836

 

 

 

47,880

 

Earnings (loss) per share – basic

 

$

0.05

 

 

$

(1.11

)

 

$

(0.40

)

Earnings (loss) per share – diluted

 

$

0.05

 

 

$

(1.11

)

 

$

(0.40

)

 

For the years ended December 31, 2020 and 2019, 0.1 million and 0.5 million shares, respectively, of unvested or unearned, as applicable, PSUs, RSUs and restricted stock were excluded from the calculation of diluted earnings per share due to their anti-dilutive effect.

For the year ended December 31, 2020 and 2019, 3.6 million and 5.2 million stock options were outstanding but were not included in the computation of diluted earnings per share due to the fact that their exercise prices were greater than the average market price of the common shares during the quarter, making them anti-dilutive under the treasury stock method.