Equity |
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| Equity | 8.EQUITY
Earnings (Loss) per Share The calculation of basic loss per share considers only weighted average outstanding common shares in the computation. The calculation of diluted earnings per share gives effect to all potentially dilutive stock options. The calculation of diluted earnings per share is based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options using the treasury stock method. Weighted average shares outstanding for the three months ended March 31, 2026 and 2025 were as follows:
The following stock options are anti-dilutive and have not been included in the weighted average shares outstanding calculation:
Common Stock Repurchase Program Since March 2000, the Company has had a discretionary program to repurchase its outstanding common stock. Beginning in May 2025, the Company has entered into 10b5-1 trading plans (the “Plans”) for the purpose of repurchasing shares of the Company’s outstanding common stock in accordance with the share repurchase program previously authorized by the Company’s Board of Directors. The Plans are intended to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Repurchases of common stock under the Plans are being administered through an independent broker and are subject to certain price, market, volume and timing constraints specified in the Plans. The Plan announced May 14, 2025 expired by its terms on July 31, 2025, and the Plan announced August 11, 2025 expired by its terms on December 31, 2025. The Company’s current Plan was announced on January 2, 2026. The current Plan authorizes the repurchase of up to $1.5 million of shares of the Company’s outstanding common stock and expires by its terms on May 10, 2026. During the three months ended March 31, 2026, the Company repurchased and retired 275,673 shares of the Company’s common stock for $0.4 million on the open market under the Plan. The total amount remaining under the current Plan was $1.1 million as of March 31, 2026. The Company intends to engage in additional stock repurchases through the current Plan that expires in May 2026 and also may undertake additional stock repurchases in the future. See Part II, Item 2 of this report for additional details. |
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