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Note 11 - Income Per Share
 6 Months Ended
Jun. 30, 2024
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

    

Six Months Ended

  
   

June 30,

    

June 30,

  
   

2024

    

2023

    

2024

    

2023

  

Basic weighted average common shares outstanding

     7,672       7,625       7,662       7,608  

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

     81       65       94       81  

Diluted weighted average common shares outstanding

     7,753       7,690       7,756       7,689  

 

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 stock options during the period.  These outstanding stock options are not included in the computa‐tion of diluted income per share because the effect would be antidilutive.  For the three- and six-month periods ended June 30, 2024, there were no stock awards excluded from the computation of diluted earnings per share for this reason. For the three- and six-month periods ended June 30, 2023, the number of stock options excluded from the computation of diluted earnings per share for this reason was 4,281 and 12,153, respectively.