v3.26.1
Note 4 - Net Income Per Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 4 – Net Income Per Share:

 

The Company’s basic net income per share is computed based on the weighted average number of shares of common stock outstanding for the period. Diluted net income per share includes the effect of the Company’s outstanding stock options, stock appreciation rights, nonvested shares of restricted stock and nonvested performance shares, if the inclusion of these items is dilutive.

 

The following table presents a reconciliation of basic and diluted net income per share for the periods presented:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Net income used in the computation of basic and diluted net income per share (in thousands)

 $1,221  $1,551  $2,055  $793 
                 

Weighted average shares outstanding - basic

  14,495,144   14,813,984   14,562,081   15,206,819 

Dilutive common stock equivalents

  412,674   287,958   350,751   366,873 

Weighted average shares outstanding - diluted

  14,907,818   15,101,942   14,912,832   15,573,692 

Net income per share:

                

Basic

 $0.08  $0.10  $0.14  $0.05 

Diluted

 $0.08  $0.10  $0.14  $0.05 

 

Awards to purchase 535,272 and 689,402 shares of common stock with weighted average exercise prices of $15.55 and $16.59 per share were outstanding during the three months ended June 30, 2026 and 2025, respectively, but were not included in the computation of diluted net income per share because the awards’ exercise prices were greater than the average market price of the common shares.

 

Awards to purchase 555,817 and 496,897 shares of common stock with weighted average exercise prices of $15.74 and $18.91 per share were outstanding during the six months ended June 30, 2026 and 2025, respectively, but were not included in the computation of diluted net income per share because the awards’ exercise prices were greater than the average market price of the common shares.