v3.26.1
Note 12 - Earnings Per Share
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

12.          Earnings Per Share:

 

Our basic and diluted earnings per share are computed using the two-class method in accordance with ASC 260. The two-class method is an earnings allocation that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. Per share amounts are computed by dividing net income available to common shareholders by the weighted average shares outstanding during each period. Diluted and basic earnings per share are the same because the restricted shares are the only potentially dilutive security.

 

A reconciliation of the numerators and denominators of the basic and diluted per share, as adjusted for the Stock Split, computations follows:

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Six months ended

   

Three months ended

 
   

June 30,

   

June 30,

 
   

2026

   

2025

   

2026

   

2025

 

Numerator:

                       

Net income

  $ 8,854     $ 9,650     $ 5,520     $ 5,968  
                                 

Less distributed and undistributed income allocated to participating securities

    122       158       82       93  
                                 

Net income attributable to common shareholders

    8,732       9,492       5,438       5,875  
                                 

Denominator:

                               

Weighted average common shares (Basic)

    18,256       18,036       18,296       18,084  
                                 

Weighted average common shares including assumed conversions (Diluted)

    18,256       18,036       18,296       18,084  
                                 

Basic net income per share

  $ 0.48     $ 0.53     $ 0.30     $ 0.33  

Diluted net income per share

  $ 0.48     $ 0.53     $ 0.30     $ 0.33