Williams Industrial Services Group Inc. 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

6 Months Ended

Jun. 30, 2019

NOTE 7—EARNINGS (LOSS) PER SHARE

As of June 30, 2019, the Company’s 19,019,408 shares outstanding included 307,164 shares of contingently issued but unvested restricted stock. As of June 30, 2018, the Company’s 18,486,758 shares outstanding included 193,589 shares of contingently issued but unvested restricted stock. Restricted stock is excluded from the calculation of basic weighted average shares outstanding, but its impact, if dilutive, is included in the calculation of diluted weighted average shares outstanding.

Basic earnings (loss) per common share are calculated by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted earnings (loss) per common share are based on the weighted average common shares outstanding during the period, adjusted for the potential dilutive effect of common shares that would be issued upon the vesting and release of restricted stock awards and units.

Basic and diluted earnings (loss) per common share from continuing operations were calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2019		2018		2019		2018
Income (loss) from continuing operations	$	1,286	$	(6,024)	$	1,681	$	(8,262)

Basic earnings (loss) per common share:
Weighted average common shares outstanding		18,712,244		18,233,226		18,613,097		18,087,368

Basic earnings (loss) per common share	$	0.07	$	(0.33)	$	0.09	$	(0.46)

Diluted earnings (loss) per common share:
Weighted average common shares outstanding		18,712,244		18,233,226		18,613,097		18,087,368

Diluted effect:
Unvested portion of restricted stock units and awards		308,863		—		470,334		—
Weighted average diluted common shares outstanding		19,021,107		18,233,226		19,083,431		18,087,368

Diluted earnings (loss) per common share	$	0.07	$	(0.33)	$	0.09	$	(0.46)

The weighted average number of shares outstanding used in the computation of basic and diluted loss per common share does not include the effect of the following potentially outstanding common stock. The effects of these potentially outstanding shares were not included in the calculation of diluted loss per common share because the effect would have been anti-dilutive.


	Three Months Ended June 30,		Six Months Ended June 30,
	2019	2018	2019	2018
Unvested service-based restricted stock and restricted stock unit awards	228,776	1,515	228,776	1,515
Unvested performance- and market-based restricted stock unit awards	878,147	279,304	878,147	279,304
Stock options	122,000	122,000	122,000	122,000