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Note 2 - Income (Loss) Per Share

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 2. Income (Loss) Per Share

Basic income (loss) per share excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted income (loss) per share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings. There were approximately 132,000 shares issuable upon conversion of unvested restricted shares for the three months ended March 31, 2021. Such shares were not included in the computation of diluted (loss) income per share for the same prior year period as the inclusion would have been anti-dilutive due to the net loss. There were 721,000 and no outstanding stock options at March 31, 2021 and March 31, 2020, respectively. Income per share is the same for both Class A and Class B shares.

The following table sets forth, for the periods indicated, the calculation of net income (loss) per share included in the condensed consolidated statements of operations:

(in thousands except per share data)		Three Months Ended
		March 31,
		2021				2020
Numerators:
Income (loss) from continuing operations		$	8,581			$	(3,084	)
Income from discontinued operations			2,559				871
Net income (loss)		$	11,140			$	(2,213	)
Denominator:
Denominator for basic income (loss) per share – weighted-average shares			16,954				18,088
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted shares			132				-
Equivalent shares issuable upon conversion of unvested employee stock options			-				-
Denominator for diluted income (loss) per share adjusted weighted-average shares and assumed conversions		$	17,086			$	18,088
Basic income (loss) per share:
Income (loss) from continuing operations		$	0.51			$	(0.17	)
Income from discontinued operations			0.15				0.05
Net income (loss) (1)		$	0.66			$	(0.12	)
Diluted income (loss) per share:
Income (loss) from continuing operations		$	0.50			$	(0.17	)
Income from discontinued operations			0.15				0.05
Net income (loss) (1)		$	0.65			$	(0.12	)

⁽¹⁾ Sum of the individual amounts may not add due to rounding.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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