Note 8 - Earnings Per Share

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

(8)

EARNINGS PER SHARE

Basic net income (loss) per share was computed using the weighted-average shares of common stock outstanding during the period.

Diluted net income (loss) per share was computed using the weighted-average shares of common stock and, if dilutive, the potential common stock outstanding during the period. Potential shares of common stock consist of the incremental common stock issuable upon the exercise of stock options and vesting of restricted stock. The dilutive effect of outstanding stock options is reflected in diluted earnings per share by application of the treasury stock method.

We had 403,145 and 391,861 options of common stock for the three-month periods ended June 30, 2025 and 2024, respectively, which have been excluded from the diluted net income (loss) per share computation because their inclusion would be anti-dilutive. We had 434,520 and 309,633 options of common stock for the six-month periods ended June 30, 2025 and 2024, respectively, which have been excluded from the diluted net income per share computation because their inclusion would be anti-dilutive.

		Three Months Ended June 30								Six Months Ended June 30
		2025				2024				2025				2024
		(In thousands, except per share data)
Numerator for net income (loss) per share – basic:
Net income (loss)		$	(106	)		$	6,175			$	5,681			$	12,534
Allocation of distributed and undistributed income to unvested restricted stock shareholders			(84	)			(1	)			(86	)			(2	)
Net income (loss) attributable to common shareholders			(190	)			6,174				5,595				12,532
Denominator for net income (loss) per share – basic:
Weighted average common shares outstanding – basic			22,658				23,871				22,814				23,870
Net income (loss) per share – basic		$	(0.01	)		$	0.26			$	0.25			$	0.53
Numerator for net income (loss) per share – diluted:
Net income (loss) attributable to common shareholders for basic computation			(190	)			6,174				5,595				12,532
Denominator for net income (loss) per share – diluted:
Weighted average common shares outstanding – basic			22,658				23,871				22,814				23,870
Weighted average effect of dilutive securities – stock options			-				44				6				64
Denominator for diluted earnings per share – adjusted weighted average shares			22,658				23,915				22,820				23,934
Net income (loss) per share – diluted		$	(0.01	)		$	0.26			$	0.25			$	0.52