v3.26.1
Net (Loss) Income per Common Share
6 Months Ended
Jun. 30, 2026
Net (Loss) Income per Common Share [Abstract]  
Net (Loss) Income per Common Share Note 5 – Net (Loss) Income per Common Share

Basic net income (loss) per common share is computed by dividing net income less dividends on preferred stock by the weighted average number of shares of common stock outstanding. The diluted net income per common share is computed by adjusting the weighted average number of shares of common stock outstanding to include the effects of outstanding stock options and unvested restricted stock, if dilutive, using the treasury stock method. Dilution is not applicable in periods of net loss. For the three and six months ended June 30, 2026, 2025 and 2024, the difference in the weighted average number of basic and diluted common shares was due solely to the effects of outstanding stock options and restricted stock . There were 1,558,000, 958,000 and 920,000 outstanding options and restricted stock considered to be anti-dilutive for the three months ended June 30, 2026, 2025 and 2024, respectively. There were 1,562,000, 958,000 and 912,000 outstanding options and restricted stock considered to be anti-dilutive for the six months ended June 30, 2026, 2025 and 2024, respectively.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations:

For the Three Months Ended June 30,

2026

2025

2024

Income

Shares

Per Share

Income

Shares

Per Share

Income

Shares

Per Share

(Numerator)

(Denominator)

Amount

(Numerator)

(Denominator)

Amount

(Numerator)

(Denominator)

Amount

(In Thousands, except per share data)

Basic earnings (loss) per share:

(Loss) Income available to common stockholders

$

(14,776)

17,306

$

(0.85)

$

3,082 

17,175 

$

0.18

$

2,369 

17,005 

$

0.14 

Effect of dilutive securities:

Stock options

-

-

-

-

-

-

Diluted (loss) earnings per share:

(Loss) Income available to common stockholders

$

(14,776)

17,306

$

(0.85)

$

3,082 

17,175 

$

0.18

$

2,369 

17,005 

$

0.14 

For the Six Months Ended June 30,

2026

2025

2024

Income

Shares

Per Share

Income

Shares

Per Share

Income

Shares

Per Share

(Numerator)

(Denominator)

Amount

(Numerator)

(Denominator)

Amount

(Numerator)

(Denominator)

Amount

(In Thousands, except per share data)

Basic earnings (loss) per share:

(Loss) Income available to common stockholders

$

(10,354)

17,273

$

(0.60)

$

(5,724)

17,144 

$

(0.33)

$

7,801 

16,968 

$

0.46

Effect of dilutive securities:

Stock options

-

-

-

-

-

-

Diluted (loss) earnings per share:

(Loss) Income available to common stockholders

$

(10,354)

17,273

$

(0.60)

$

(5,724)

17,144 

$

(0.33)

$

7,801 

16,968 

$

0.46