(Loss) Earnings Per Share

3 Months Ended

Mar. 31, 2022

14. (LOSS) EARNINGS PER SHARE

The calculation of basic and diluted (loss) earnings per share is as follows:


	Three Months Ended
	March 31,
(In thousands, except per share amounts)	2022			2021
Numerator
Net (loss) income	$	(1,127	)	$	896
Denominator
Weighted average number of shares – basic		49,113			48,336
Effect of dilutive securities
Stock options		—		56
PSUs, RSUs and restricted stock		—			612
Weighted average number of shares – diluted		49,113			49,004
(Loss) earnings per share – basic	$	(0.02	)	$	0.02
(Loss) earnings per share – diluted	$	(0.02	)	$	0.02

For the three months ended March 31, 2022 and 2021, five thousand and one thousand shares, respectively, of unvested PSUs, RSUs and restricted stock were excluded from the calculation of diluted earnings per share due to their anti-dilutive effect.

For the three months ended March 31, 2022 and 2021, 0.1 million and 0.7 million stock options, respectively, were outstanding but were not included in the computation of diluted earnings per share. These stock options were excluded because their exercise prices were greater than the average market price of the common shares during the applicable period, making them anti-dilutive under the treasury stock method.