v3.26.1
Note 2 - Income Per Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 2.

Income Per Share

 

Basic income per share excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted income per share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings. Income per share is the same for both Class A and Class B shares.

 

The following table sets forth, for the periods indicated, the calculation of net income per share included in the condensed consolidated statements of operations:

 

(in thousands except per share data)

 

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Numerator:

                

Net income

 $8,535  $9,840  $12,955  $16,403 

Denominator:

                

Denominator for basic income per share – weighted-average shares

  25,215   26,041   25,149   26,295 

Effect of dilutive securities:

                

Equivalent shares issuable upon conversion of unvested restricted shares

  123   111   126   122 

Equivalent shares issuable upon conversion of unvested employee stock options

  1,251   1,076   1,254   1,147 

Denominator for diluted income per share adjusted weighted-average shares and assumed conversions

  26,589   27,228   26,529   27,564 
                 

Basic income per share

 $0.34  $0.38  $0.52  $0.62 

Diluted income per share

 $0.32  $0.36  $0.49  $0.60 

 

There were no unvested shares excluded from the calculation of diluted earnings per share as anti-dilutive for the three and six months ended June 30, 2026. There were no unvested employee stock options excluded from the calculation of diluted earnings per share as anti-dilutive for the three and six months ended June 30, 2026.  For the three and six months ended June 30, 2025, approximately 1,000 and no restricted stock shares of common stock, respectively, and no unvested employee stock options were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive.