| EARNINGS PER SHARE |
NOTE K — EARNINGS PER SHARE
The computation of basic and diluted earnings per share (“EPS”) is based on the weighted average number of common shares outstanding during each period.
The following table provides a reconciliation of the computation for basic and diluted earnings per share for the three and six months ended June 30, 2021 and 2020, respectively (in thousands, except share and per share data):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2021 |
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2020 |
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2021 |
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2020 |
Net income (loss) |
|
$ |
16,548 |
|
$ |
(7,938) |
|
$ |
26,566 |
|
$ |
(6,879) |
Reversal of loss on change in value of warrant liability |
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|
407 |
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- |
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631 |
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- |
Net income attributable to common shareholders for EPS - diluted |
|
$ |
16,955 |
|
$ |
(7,938) |
|
$ |
27,197 |
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$ |
(6,879) |
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Weighted-average number of shares outstanding - basic |
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42,949,261 |
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37,010 |
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42,584,793 |
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37,010 |
Additional shares from assumed stock-settled restricted stock units |
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237,243 |
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- |
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186,420 |
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- |
Additional shares from assumed exercise of warrants |
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1,063,357 |
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- |
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1,469,201 |
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- |
Weighted-average number of shares outstanding - diluted |
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44,249,861 |
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37,010 |
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44,240,414 |
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37,010 |
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Earnings per share – basic: |
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$ |
0.39 |
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$ |
(214.48) |
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$ |
0.62 |
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$ |
(185.87) |
Earnings per share – diluted: |
|
$ |
0.38 |
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$ |
(214.48) |
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$ |
0.61 |
|
$ |
(185.87) |
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