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Note 12 - Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

12.          Earnings Per Share:

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Our basic and diluted earnings per share are computed using the two-class method in accordance with ASC 260. The two-class method is an earnings allocation that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. Per share amounts are computed by dividing net income available to common shareholders by the weighted average shares outstanding during each period. Diluted and basic earnings per share are the same because the restricted shares are the only potentially dilutive security.

 

A reconciliation of the numerators and denominators of the basic and diluted per share computations follows:

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Nine months ended

  

Three months ended

 

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September 30,

  

September 30,

 

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2024

  

2023

  

2024

  

2023

 

Numerator:

 

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Net income

 $11,620  $7,077  $5,459  $2,372 
                 

Less distributed and undistributed income allocated to participating securities

  288   171   139   61 
                 

Net income attributable to common shareholders

  11,332   6,906   5,320   2,311 
                 

Denominator:

                

Weighted average common shares (Basic)

  4,458   4,392   4,476   4,414 
                 

Weighted average common shares including assumed conversions (Diluted)

  4,458   4,392   4,476   4,414 
                 

Basic net income per share

 $2.54  $1.57  $1.19  $0.52 

Diluted net income per share

 $2.54  $1.57  $1.19  $0.52