Earnings Per Share

3 Months Ended

Mar. 31, 2025

Note 9 – Earnings Per Share

Basic earnings per share are computed by dividing net (loss) income 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 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 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 per share and the weighted average shares outstanding used in calculating basic and diluted earnings per share:


	Three Months Ended March 31,
	2025			2024
Net (loss) income	$	(128	)	$	14,785

Basic weighted average shares of Common Stock outstanding		30,778,752			31,543,784
Dilutive effect of restricted stock, restricted stock units and performance stock units		—			147,547
Diluted weighted average shares of Common Stock outstanding		30,778,752			31,691,331

Basic (loss) earnings per share	$	(0.00	)	$	0.47
Diluted (loss) earnings per share	$	(0.00	)	$	0.47

Securities excluded from the calculation of diluted loss per share were approximately 98,885 for the three months ended March 31, 2025, because the inclusion of such securities in the calculation would have been anti-dilutive. There were no anti-dilutive securities for the three months ended March 31, 2024.