Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2023

NOTE 11. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing earnings (loss) by the weighted average number of common shares outstanding during each period. Diluted earnings (loss) per share is computed by dividing earnings (loss) by the total of the weighted average number of shares of common stock outstanding during each period, plus the effect of dilutive outstanding stock options and unvested restricted stock grants. Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to the loss from continuing operations.

The following table is a reconciliation of basic and diluted shares of common stock outstanding used in the calculation of earnings (loss) per share:


	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022

Weighted average shares outstanding - basic		37,470		37,369		37,267		37,256
Effect of dilutive stock awards		—		2,061		—		2,246
Effect of dilutive deferred stock consideration for business acquisition		—		150		—		192
Weighted average shares outstanding - diluted		37,470		39,580		37,267		39,694

Net (loss) income per share:
Basic	$	(0.03)	$	0.07	$	(0.05)	$	0.32
Diluted		(0.03)		0.07		(0.05)		0.30

For the three months ended September 30, 2023 and 2022, equity awards of 4,922 and 1,713, respectively, and for the nine months ended September 30, 2023 and 2022, equity awards of 5,613 and 1,560, respectively, were excluded from the calculation of earnings (loss) per share for these periods as they were anti-dilutive.