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Note 14 - Net Income Per Share
 9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

14.

Net Income per Share

 

Basic net income per share is computed by dividing 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,

 
  

2022

  

2021

  

2022

  

2021

 
                 

Net income

 $9,956  $4,946  $23,188  $9,252 
                 

Basic weighted-average common shares outstanding

  9,927   9,871   9,909   9,849 

Effect of potentially dilutive common shares (1)

  83   50   79   69 

Diluted weighted-average common shares outstanding

  10,010   9,921   9,988   9,918 
                 

Net income per common share:

                

Basic

 $1.00  $0.50  $2.34  $0.94 

Diluted

 $0.99  $0.50  $2.32  $0.93 

 

(1)

The weighted-average number of antidilutive shares not included in the computation of diluted net income per share was approximately 77,000 for the three months ended September 30, 2021. There were no antidilutive shares for the three and nine months ended September 30, 2022 and the nine months ended September 30, 2021.