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Note 11 - Income Per Share
 3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

(11)

Income Per Share

 

Basic income per share is based on the weighted average number of shares of common stock outstanding. Diluted income per share is based upon the weighted average number of common shares outstanding and dilutive common stock equivalent shares outstanding during each period.

 

The weighted average number of shares used to compute basic and diluted net income per share consisted of the following (in thousands):

 

  

Three Months Ended

 
  

March 31,

 
  

2023

  

2022

 

Basic weighted average common shares outstanding

  7,592   7,544 

Weighted average common equivalent shares due to restricted stock, stock options and RSUs

  89   86 

Diluted weighted average common shares outstanding

  7,681   7,630 

 

The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock options, when the average market price of the common stock is lower than the exercise price of the related options during the period. These outstanding stock awards are not included in the computation of diluted income per share because the effect would be antidilutive. For both the three-month periods ended March 31, 2023 and 2022, there were no stock awards excluded from the computation of diluted earnings per share for this reason.