Note 11 - Stockholders' Equity |
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| Equity [Text Block] |
Basic earnings (loss) per common share are based upon the weighted average shares outstanding. Outstanding stock options and restricted stock are treated as potential common stock for purposes of computing diluted earnings (loss) per share. Basic and diluted earnings (loss) per share are calculated using the following share data (in thousands):
For the three- and six-month periods ended June 30, 2025 and 2024, there were no stock options or restricted stock awards outstanding.
On May 14, 2024, the Company’s board of directors (the “Board”) authorized the repurchase of up to $1.5 million of shares of the Company’s common stock (the "2024 Repurchase Program"). The authorization does not obligate the Company to acquire a specific number of shares during any period and does not have an expiration date. Repurchases under the 2024 Repurchase Program may be made from time to time in the open market, or through privately negotiated transactions or otherwise, in such quantities, at such prices, in such manner and on such terms and conditions as the authorized officers of the Company determine are in the best interests of the Company. Repurchases may also be made under a plan adopted pursuant to Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
During the three and six months ended June 30, 2025, the Company repurchased 491,626 shares of common stock, at a weighted average price per share of $7.80, 402,322 shares of which were repurchased outside of, and as an exception to, the 2024 Repurchase Program. The total cost of shares repurchased, inclusive of fees and commissions, during the three and six months ended June 30, 2025 was $3.8 million or $7.80 per share.
During the three and six months ended June 30, 2024, the Company repurchased 48,333 shares of common stock, at a weighted average price per share of $5.00. The total cost of shares repurchased, inclusive of fees and commissions, during the three and six months ended June 30, 2024 was $0.2 million or $5.02 per share.
During the three and six months ended June 30, 2025 and 2024, the Company did declare or pay any dividends to its holders of common stock.
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