EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2026

5. EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income (loss) by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2026	2025	2026	2025
Weighted average shares outstanding used to compute basic earnings per share	34,844	34,775	34,771	34,694
Incremental dilutive shares attributable to stock options	—	—	—	—
Shares used to compute diluted earnings per share	34,844	34,775	34,771	34,694

Incremental shares attributable to stock options are computed under the treasury stock method using the average market price during the related period. Average out-of-the-money options to purchase shares that were excluded from the calculation of incremental shares attributable to stock options were 1,072,073 and 1,116,417 for the three and six months ended June 30, 2026, respectively. Average out-of-the-money options to purchase shares that were excluded from the calculation of incremental shares attributable to stock options were 1,245,367 and 1,285,628 for the three and six months ended June 30, 2025, respectively.