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Note 13 - Net Income Per Share

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

13.

Net Income per Share

Basic net income per share is computed by dividing the net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by giving effect to all potential shares of common stock, including stock options, RSUs, and PSAs, to the extent dilutive. Performance-based PSAs are considered dilutive when the related performance conditions have been met assuming the end of the reporting period represents the end of the performance period. In periods with a net loss, all potential shares of common stock are excluded from the computation of diluted net loss per share as the impact would be antidilutive.

Net income per basic and diluted weighted-average common share outstanding was calculated as follows (in thousands, except per share amounts):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2020				2019				2020				2019

Net income		$	7,267			$	10,747			$	13,829			$	15,886

Basic weighted-average common shares outstanding			9,802				9,745				9,782				9,739
Effect of potentially dilutive common shares			59				40				69				23
Diluted weighted-average common shares outstanding			9,861				9,785				9,851				9,762

Net income per common share:
Basic		$	0.74			$	1.10			$	1.41			$	1.63
Diluted		$	0.73			$	1.10			$	1.40			$	1.63