XML 19 R9.htm IDEA: XBRL DOCUMENT

Note 2 - Earnings Per Common Share

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

(2) Earnings per Common Share

Basic and diluted earnings per common share were computed as follows:

		Three Months								Nine Months
		Ended September 30,								Ended September 30,
(In thousands, except per share amounts)		2025				2024				2025				2024
Numerator:
Net income		$	2,226			$	3,754			$	13,747			$	21,289
Denominator:
Basic earnings per common share - weighted-average shares			81,520				81,437				81,508				81,389
Effect of dilutive stock options			7				55				8				71
Diluted earnings per common share - weighted-average shares and assumed conversions			81,527				81,492				81,516				81,460

Basic earnings per common share		$	0.03			$	0.05			$	0.17			$	0.26
Diluted earnings per common share		$	0.03			$	0.05			$	0.17			$	0.26

Options totaling 672,071 and 632,398 equivalent shares for the three-month and nine-month periods ended September 30, 2025, respectively, and 522,300 and 518,200 equivalent shares for the three-month and nine-month periods ended September 30, 2024, respectively, were outstanding but were not included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares, or because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

Unvested performance unit awards totaling 154,059 equivalent shares for each of the three-month and nine-month periods ended September 30, 2025, and 141,320 equivalent shares for each of the three-month and nine-month periods ended September 30, 2024, were considered outstanding but were not included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.