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Note 11 - Net Income Per Share
 3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

11.

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 dilutive potential shares of common stock, including RSUs and PSAs, assumed to be outstanding during the period using the treasury stock method. 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 March 31,

 
  

2024

  

2023

 
         

Net income

 $5,238  $2,362 
         

Basic weighted-average common shares outstanding

  9,916   9,940 

Effect of potentially dilutive common shares (1)

  129   147 

Diluted weighted-average common shares outstanding

  10,045   10,087 
         

Net income per common share:

        

Basic

 $0.53  $0.24 

Diluted

 $0.52  $0.23 

 

 

(1)

The weighted-average number of antidilutive shares not included in the computation of diluted net income per share was approximately 6,000 for the three months ended March 31, 2024. There were no antidilutive shares for the three months ended March 31, 2023.