Note 11 – Earnings Per-Share

Basic and diluted earnings per share are based on the weighted average number of shares of common stock and potential common stock outstanding during the period. Potential common stock, for the purpose of determining diluted earnings per share, includes the effects of dilutive unvested restricted stock, options to purchase common stock and convertible securities. The effect of such potential common stock is computed using the treasury stock method or the if-converted method, as applicable.

The following table presents a reconciliation of the numerators and denominators of the computations of basic and diluted earnings per share from continuing operations. In the table below, net income  represents the numerator, and shares represent the denominator (unaudited, in thousands except per share amounts):

For the three and six months ended June 30, 2026, respectively, 100,000 and 94,000 restricted shares and options were excluded from the calculation of dilutive shares because their effect would have been anti-dilutive. For both the three and six months ended June 30, 2025, respectively, 50,000 restricted shares and options were excluded from the calculation of dilutive shares because their effect would have been anti-dilutive.