Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2024

Note 9 – Earnings (Loss) Per Share

Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of shares of the Company’s Common Stock, no par value (“Common Stock”), outstanding during the period. The Company’s diluted earnings (loss) per share give effect to all potential shares of Common Stock outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings (loss) per share, the treasury stock method is used in determining the number of shares assumed to be issued from the exercise of Common Stock equivalents.

The following table illustrates earnings (loss) per share and the weighted average shares outstanding used in calculating basic and diluted earnings (loss) per share:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024		2023
Net income (loss)	$	18,876	$	(1,551	)	$	33,661	$	6,412

Basic weighted average shares of Common Stock outstanding		31,534,382		33,018,939			31,538,802		33,099,817
Dilutive effect of stock options, restricted stock awards and restricted stock units		175,119		—			175,623		228,160
Diluted weighted average shares of Common Stock outstanding		31,709,501		33,018,939			31,714,425		33,327,977

Basic earnings (loss) per share	$	0.60	$	(0.05	)	$	1.07	$	0.19
Diluted earnings (loss) per share	$	0.60	$	(0.05	)	$	1.06	$	0.19

The following table represents Common Stock issuable upon the exercise of certain restricted stock awards and restricted stock units that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Anti-dilutive securities share impact		—		198,371		—		—