| NET INCOME (LOSS) PER COMMON SHARE |
NET INCOME (LOSS) PER COMMON SHARE
Net Income per Common Share - Continuing Operations
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Year ended December 31, |
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2019 |
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2018 |
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|
2017 |
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|
(thousands of dollars) |
Net income (loss) from continuing operations |
$ |
(12,884 |
) |
|
$ |
(1,728 |
) |
|
$ |
21,512 |
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Basic income (loss) from continuing operations per common share: |
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Weighted average shares outstanding |
24,698 |
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|
24,438 |
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|
24,294 |
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Per share amount (dollars) |
$ |
(0.52 |
) |
|
$ |
(0.07 |
) |
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$ |
0.89 |
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Diluted income (loss) from continuing operations per common share: |
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Weighted average shares outstanding |
24,698 |
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|
24,438 |
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|
25,129 |
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Per share amount (dollars) |
$ |
(0.52 |
) |
|
$ |
(0.07 |
) |
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$ |
0.86 |
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Weighted average shares-denominator
basic computation
|
24,698 |
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|
24,438 |
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|
24,294 |
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Unvested restricted stock unit grant |
— |
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|
— |
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|
367 |
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Effect of dilutive stock options |
— |
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— |
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|
468 |
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Weighted average shares, as adjusted
denominator diluted computation
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24,698 |
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|
24,438 |
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25,129 |
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Net Income per Common Share - Discontinued Operations
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Year ended December 31, |
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2019 |
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2018 |
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2017 |
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(thousands of dollars) |
Net loss from discontinued operations |
$ |
(2,090 |
) |
|
$ |
(604 |
) |
|
$ |
(3,503 |
) |
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Basic income (loss) from discontinued operations per common share: |
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Weighted average shares outstanding |
24,698 |
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|
24,438 |
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24,294 |
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Per share amount (dollars) |
$ |
(0.08 |
) |
|
$ |
(0.02 |
) |
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$ |
(0.14 |
) |
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Diluted income (loss) from discontinued operations per common share: |
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Weighted average shares outstanding |
24,698 |
|
|
24,438 |
|
|
25,129 |
|
Per share amount (dollars) |
$ |
(0.08 |
) |
|
$ |
(0.02 |
) |
|
$ |
(0.14 |
) |
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Weighted average shares-denominator
basic computation
|
24,698 |
|
|
24,438 |
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|
24,294 |
|
Unvested restricted stock unit grant |
— |
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|
— |
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|
367 |
|
Effect of dilutive stock options |
— |
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|
— |
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|
468 |
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|
Weighted average shares, as adjusted
denominator diluted computation
|
24,698 |
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|
24,438 |
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|
25,129 |
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Net Income per Common Share
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Year ended December 31, |
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2019 |
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2018 |
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2017 |
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(thousands of dollars) |
Net income (loss) |
$ |
(14,974 |
) |
|
$ |
(2,332 |
) |
|
$ |
18,009 |
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Basic earnings (loss) per common share: |
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Weighted average shares outstanding |
24,698 |
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|
24,438 |
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|
24,294 |
|
Per share amount (dollars) |
$ |
(0.61 |
) |
|
$ |
(0.10 |
) |
|
$ |
0.74 |
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Diluted earnings (loss) per common share: |
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Weighted average shares outstanding |
24,698 |
|
|
24,438 |
|
|
25,129 |
|
Per share amount (dollars) |
$ |
(0.61 |
) |
|
$ |
(0.10 |
) |
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$ |
0.72 |
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Weighted average shares-denominator
basic computation
|
24,698 |
|
|
24,438 |
|
|
24,294 |
|
Unvested restricted stock unit grant |
— |
|
|
— |
|
|
367 |
|
Effect of dilutive stock options |
— |
|
|
— |
|
|
468 |
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|
Weighted average shares, as adjusted
denominator diluted computation
|
24,698 |
|
|
24,438 |
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|
25,129 |
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At December 31, 2019, 2018, and 2017, 487,000, 745,830 and 1,323,587 potential common stock shares, respectively, were issuable upon the exercise of options and warrants. At December 31, 2019, the Company had 120,000 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, 2019.
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.
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