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Note 6 - Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

6. EARNINGS PER SHARE

 

Basic earnings per share is computed by dividing the net income available to common shareholders for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income available to common shareholders for the period by the weighted average number of potentially dilutive common and common equivalent shares outstanding during the period. Common equivalent shares are composed of incremental common shares issuable upon the exercise of stock options and RSUs subject to vesting. The dilutive effect of common equivalent shares is included in diluted earnings per share by application of the treasury stock method. The total number of common equivalent shares excluded from the calculations of diluted earnings per share, due to their anti-dilutive effect or contingent performance conditions, was approximately 177,000 and 340,000 for the three months ended September 30, 2024 and 2023, respectively, and 169,000 and 278,000 for the nine months ended September 30, 2024 and 2023, respectively.

 

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

 

  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2024

  

2023

  

2024

  

2023

 

Numerator:

                

Net income

 $5,725  $3,867  $15,118  $10,623 

Denominator:

                

Weighted-average shares outstanding

  30,409   30,683   30,374   30,653 

Effect of dilutive shares

  181   86   138   81 

Weighted-average diluted shares

  30,590   30,769   30,512   30,734 
                 

Net income per share:

                

Basic

 $0.19  $0.13  $0.50  $0.35 

Diluted

 $0.19  $0.13  $0.50  $0.35