10.
INCOME PER COMMON SHARE
The following table provides a reconciliation of the basic and diluted earnings per share (“EPS”) computations for the three and nine months ended June 30, 2025 and 2024:
| | | | | | | | | | | | | | | | |
| |
| Three Months Ended
June 30, |
|
| Nine Months Ended
June 30, |
|
|
(in thousands, except per share data)
|
|
2025
| |
| |
2024
| |
| |
2025
| |
| |
2024
| |
|
Income:
|
| | |
| | | |
| | | |
| | | |
|
Net income (loss)
|
$ | 887 | |
| $ | (191 | ) |
| $ | 2,986 | |
| $ | 304 | |
|
Preferred stock dividends
|
| (77 | ) |
| | (85 | ) |
| | (271 | ) |
| | (242 | ) |
|
Non-controlling interest dividends
|
| — | |
| | — | |
| | (243 | ) |
| | — | |
|
Net income (loss) available to common stockholders
|
$ | 810 | |
| $ | (276 | ) |
| $ | 2,472 | |
| $ | 62 | |
| |
| | |
| | | |
| | | |
| | | |
|
Common Shares:
|
| | |
| | | |
| | | |
| | | |
|
Basic - weighted average common shares
|
| 1,186.4 | |
| | 1,186.4 | |
| | 1,186.4 | |
| | 1,186.4 | |
|
Effect of dilutive securities:
|
| | |
| | | |
| | | |
| | | |
|
Stock options
|
| 20.2 | |
| | — | |
| | 19.7 | |
| | 19.5 | |
|
Diluted - weighted average common stock
|
| 1,206.6 | |
| | 1,186.4 | |
| | 1,206.1 | |
| | 1,205.9 | |
| |
| | |
| | | |
| | | |
| | | |
|
Income per Common Share:
|
| | |
| | | |
| | | |
| | | |
|
Basic -
|
| | |
| | | |
| | | |
| | | |
|
Net income (loss)
|
$ | 0.75 | |
| $ | (0.16 | ) |
| $ | 2.52 | |
| $ | 0.25 | |
|
Preferred stock dividends
|
| (0.07 | ) |
| | (0.07 | ) |
| | (0.24 | ) |
| | (0.20 | ) |
|
Non-controlling interest dividends
|
| — | |
| | — | |
| | (0.20 | ) |
| | — | |
|
Net income (loss) available to common stockholders
|
$ | 0.68 | |
| $ | (0.23 | ) |
| $ | 2.08 | |
| $ | 0.05 | |
| |
| | |
| | | |
| | | |
| | | |
|
Diluted -
|
| | |
| | | |
| | | |
| | | |
|
Net income (loss)
|
$ | 0.74 | |
| $ | (0.16 | ) |
| $ | 2.48 | |
| $ | 0.25 | |
|
Preferred stock dividends
|
| (0.07 | ) |
| | (0.07 | ) |
| | (0.23 | ) |
| | (0.20 | ) |
|
Non-controlling interest dividends
|
| — | |
| | — | |
| | (0.20 | ) |
| | — | |
|
Net income (loss) available to common stockholders
|
$ | 0.67 | |
| $ | (0.23 | ) |
| $ | 2.05 | |
| $ | 0.05 | |
The computation for the diluted number of shares excludes unexercised stock options that are anti-dilutive. There were 22.5 anti-dilutive shares for each of the three- and nine-month periods ended June 30, 2025 and June 30, 2024.
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