v3.26.1
Note 13 - Earnings and Dividends Per Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

(13)

Earnings and Dividends Per Share

 

A reconciliation between basic and diluted income per share for the periods indicated was as follows:

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2026

  

2025

  

2026

  

2025

 
  

(in thousands,

  

(in thousands,

 
  

except share and per share amounts)

  

except share and per share amounts)

 
                 

Net income (loss)

 $17,736  $(1,722) $32,466  $522 
                 

Basic and diluted earnings (loss) per share

 $1.19  $(0.12) $2.18  $0.03 

Basic and diluted shares used in computing earnings per share

  14,921,968   14,921,968   14,921,968   14,921,968 

 

Diluted EPS for the three and six months ended June 30, 2026 and 2025 was the same as basic EPS as there were no stock options or other dilutive instruments outstanding.  Basic and diluted EPS is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding.

 

Stockholders are entitled to receive such dividends as  may be declared by our Board out of funds legally available for such purpose. However, no dividend  may be declared or paid unless after-tax profit was made in the preceding fiscal year, we comply with covenants in our secured loan agreements, we are current on all required debt payments, and we have received prior written concurrence from certain lenders.