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Note 2 - Income Per Share

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 2.

Income Per Share

Basic income 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 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. 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 per share included in the condensed consolidated statements of operations:

(in thousands except per share data)		Three Months Ended
		March 31,
		2025				2024
Numerators:
Income from continuing operations		$	6,563			$	3,824
Income from discontinued operations			-				150
Net income		$	6,563			$	3,974
Denominator:
Denominator for basic income per share – weighted-average shares			26,538				26,174
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted shares			129				158
Equivalent shares issuable upon conversion of unvested employee stock options			1,210				1,268
Denominator for diluted income per share adjusted weighted-average shares and assumed conversions			27,877				27,600

Basic income per share⁽¹⁾:
Income from continuing operations		$	0.25			$	0.15
Income from discontinued operations			-				0.01
Net income per share		$	0.25			$	0.15
Diluted income per share: ⁽¹⁾
Income from continuing operations		$	0.24			$	0.14
Income from discontinued operations			-				0.01
Net income per share		$	0.24			$	0.14

⁽¹⁾	Total may not sum due to rounding.

There were no unvested shares or unvested options excluded from the calculation of diluted earnings per share as the effect of any assumed exercise of the related awards would have been anti-dilutive for the three months ended March 31, 2025 and 2024.