Annual report pursuant to Section 13 and 15(d)

NET INCOME (LOSS) PER COMMON SHARE

v3.19.1
NET INCOME (LOSS) PER COMMON SHARE
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER COMMON SHARE
NET INCOME (LOSS) PER COMMON SHARE
 
Year ended December 31,
 
2018

 
2017

 
2016

 
(thousands of dollars)
Net income (loss)
$
(2,332
)
 
$
18,009

 
$
19,428

 
 
 
 
 
 
Basic earnings (loss) per common share:
 
 
 
 
 
Weighted average shares outstanding
24,438

 
24,294

 
24,284

 
 
 
 
 
 
Per share amount (dollars)
$
(0.10
)
 
$
0.74

 
$
0.80

Diluted earnings (loss) per common share:
 
 
 
 
 
Weighted average shares outstanding
24,438

 
25,129

 
24,982

 
 
 
 
 
 
Per share amount (dollars)
$
(0.10
)
 
$
0.72

 
$
0.78

Weighted average shares-denominator
  basic computation
24,438

 
24,294

 
24,284

Unvested restricted stock unit grant

 
367

 
310

Effect of dilutive stock options

 
468

 
388

Weighted average shares, as adjusted
  denominator diluted computation
24,438

 
25,129

 
24,982


At December 31, 2018, 2017, and 2016, 745,830, 1,323,587 and 1,348,437 potential common stock shares, respectively, were issuable upon the exercise of options and warrants. At December 31, 2018, the Company had 397 unvested restricted stock units and 264 stock options that were not included in the computation of diluted earnings per share because the effect of conversion would be anti-dilutive due to the Company incurring net loss for operations for the year ended December 31, 2018.
In 2018, we completed an exchange of shares with certain shareholders whereby such shareholders traded 65,000 common shares of TREC in exchange for 24,489 shares of our AMAK stock.  The 65,000 shares were accounted for as treasury stock.