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Note 13 - Net Income Per Share
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

(13)

Net 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):

 

   

Years Ended December 31,

  
   

2024

    

2023

    

2022

  

Basic weighted average common shares outstanding during the year

     7,668       7,624       7,564  

Weighted average common equivalent shares due to stock options and restricted stock units

     117       77       99  

Diluted weighted average common shares outstanding during the year

     7,785       7,701       7,663  

 

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 computation of diluted income per share because the effect would be antidilutive.

 

For the years ended December 31, 2024, 2023, and 2022, the number of stock awards excluded from the computation was 2,958, 4,218, and 9,867, respectively.