Three months ended

March 31,

2020

2019

Numerator—basic and diluted:

Net income (loss)

$

(1,589

)

$

5,302

Denominator:

Weighted-average common shares - basic common stock ⁽¹⁾

21,916,365

21,750,305

Weighted-average common shares - diluted common stock

21,916,365

22,534,885

Net income (loss) per share - basic common stock

$

(0.07

)

$

0.24

Net income (loss) per share - diluted common stock ⁽²⁾

$

(0.07

)

$

0.24

Denominator calculation from basic to diluted:

Weighted-average common shares - basic common stock ⁽¹⁾

21,916,365

21,750,305

Stock options and other dilutive awards

327,891

784,580

Weighted-average common shares - diluted common stock

22,244,256

22,534,885

Shares excluded from diluted weighted-average shares:

Stock options

81,220

—

Restricted stock units and restricted stock awards

293,236

119,378

Shares excluded from diluted weighted-average shares

374,456

119,378

(1)

Unvested restricted stock units and restricted stock awards are not included as shares outstanding in the calculation of basic earnings (loss) per share. Vested restricted stock units and restricted stock awards are included in basic earnings (loss) per share if all vesting and performance criteria have been met. Performance-based restricted stock units and restricted stock awards are included in the number of shares used to calculate diluted earnings (loss) per share as long as all applicable performance criteria are met, and their effect is dilutive. Restricted stock awards are eligible to receive all dividends declared on the Company’s common shares during the vesting period; however, such dividends are not paid until the restrictions lapse.

(2)

Due to a net loss for the three months ended March 31, 2020, dilutive loss per share is the same as basic.