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Note 10 - Net Income Per Share
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

10.

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 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 and footnoted amounts):

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2025

  

2024

  

2025

  

2024

 
                 

Net income

 $9,063  $8,619  $13,027  $13,857 
                 

Basic weighted-average common shares outstanding

  9,882   9,912   9,908   9,914 

Effect of potentially dilutive common shares (1)

  79   83   133   111 

Diluted weighted-average common shares outstanding

  9,961   9,995   10,041   10,025 
                 

Net income per common share:

                

Basic

 $0.91  $0.87  $1.31  $1.40 

Diluted

 $0.91  $0.86  $1.30  $1.38 

 

(1)

The weighted-average number of antidilutive shares not included in the computation of diluted net income per share was approximately 26,000 for the three months ended June 30, 2025 and approximately 16,000 for the six months ended June 30, 2024. There were no antidilutive shares for the six months ended June 30, 2025 and the three months ended June 30, 2024.