Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.2
Earnings Per Share
6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share 5.  EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. For the calculation of diluted shares, the Company assumes that restricted stock is outstanding on the date of vesting, and the Company assumes the issuance of shares from the exercise of stock options using the treasury stock method.

A reconciliation or reported net income (loss) to net income (loss) used in calculating EPS as well as a reconciliation from basic to diluted shares follows:  

Three Months Ended June 30,

Six Months Ended June 30,

2020

2019

2020

2019

(in thousands)

Net income (loss) (numerator):

Income (loss) from continuing operations

$

585

$

(871)

$

(52,152)

$

(41)

(Income) loss from continuing operations attributable to unvested shares

(3)

Numerator for basic

582

(871)

(52,152)

(41)

(Income) loss from continuing operations attributable to unvested shares

Numerator for dilutive

$

582

$

(871)

$

(52,152)

$

(41)

Income (loss) from discontinued operations, net of tax

$

11

$

(162)

$

(52)

$

5,509

(Income) loss from discontinued operations attributable to unvested shares

(42)

Numerator for basic

11

(162)

(52)

5,467

(Income) loss from discontinued operations attributable to unvested shares

42

Numerator for dilutive

$

11

$

(162)

$

(52)

$

5,509

Net income (loss)

$

596

$

(1,033)

$

(52,204)

$

5,468

Net (income) loss attributable to unvested shares

(3)

(42)

Numerator for basic

593

(1,033)

(52,204)

5,426

Net (income) loss attributable to unvested shares

42

Numerator for dilutive

$

593

$

(1,033)

$

(52,204)

$

5,468

Weighted average shares (denominator):

Basic weighted average shares outstanding

57,456

59,801

57,716

59,716

Effect of dilutive securities

138

Diluted weighted average shares outstanding

57,594

59,801

57,716

59,716

Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive

1,793

370

3,051

644