Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.19.2
Earnings Per Share
6 Months Ended
Jun. 30, 2019
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 from basic to diluted shares follows:  

Three Months Ended June 30,

Six Months Ended June 30,

2019

2018

2019

2018

(in thousands)

Net income (loss) (numerator):

Income (loss) from continuing operations

$

(871)

$

887

$

(41)

$

9,598

(Income) from continuing operations attributable to unvested shares

(9)

(87)

Numerator for basic

(871)

878

(41)

9,511

(Income) loss from continuing operations attributable to unvested shares

1

Numerator for dilutive

$

(871)

$

878

$

(41)

$

9,512

Income (loss) from discontinued operations, net of tax

$

(162)

$

(343)

$

5,509

$

(395)

Income (loss) from discontinued operations attributable to unvested shares

3

(42)

3

Numerator for basic

(162)

(340)

5,467

(392)

Income (loss) from discontinued operations attributable to unvested shares

42

Numerator for dilutive

$

(162)

$

(340)

$

5,509

$

(392)

Net income (loss)

$

(1,033)

$

544

$

5,468

$

9,203

Net (income) loss attributable to unvested shares

(6)

(42)

(84)

Numerator for basic

(1,033)

538

5,426

9,119

Net (income) loss attributable to unvested shares

42

1

Numerator for dilutive

$

(1,033)

$

538

$

5,468

$

9,120

Weighted average shares (denominator):

Basic weighted average shares outstanding

59,801

59,090

59,716

58,977

Effect of dilutive securities

761

381

Diluted weighted average shares outstanding

59,801

59,851

59,716

59,358

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

370

172

644

1,713