Ascent Industries Co. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2021

The following table sets forth the computation of basic and diluted earnings (loss) per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net income (loss)	$	8,199	$	(10,539)	$	12,179	$	(18,674)
Denominator:
Denominator for basic earnings per share - weighted average shares	9,287		9,105		9,237		9,079
Effect of dilutive securities:
Employee stock options and stock grants	116		—		111		—
Denominator for diluted earnings per share - weighted average shares	9,403		9,105		9,348		9,079

Net income (loss) per share:
Basic	$	0.88	$	(1.16)	$	1.32	$	(2.06)
Diluted	$	0.87	$	(1.16)	$	1.30	$	(2.06)

The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had 0.2 million shares of common stock that were anti-dilutive for the three and nine months ended September 30, 2021, respectively. The Company had 0.3 million and 0.2 million shares of common stock that were anti-dilutive for the three and nine months ended September 30, 2020, respectively.