Earnings per Share

9 Months Ended

Sep. 30, 2025

NOTE 2 – Earnings per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. No dividends were paid on our Common Stock in any of the periods presented in this report.

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Earnings (numerator)
Net income attributable to common stockholders	$	14,278	$	13,745	$	55,939	$	35,783

Shares (denominator)
Weighted average common shares outstanding (basic)		46,383		46,331		46,384		46,166
Dilutive effect of stock options and stock awards outstanding		54		111		70		212
Adjusted weighted average common shares outstanding (diluted)		46,437		46,442		46,454		46,378

Earnings per share attributable to common stockholders
Basic	$	0.31	$	0.30	$	1.21	$	0.78
Diluted	$	0.31	$	0.30	$	1.20	$	0.77

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		273		125		674		241