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Note 11 - Net Income Per Share

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

11.

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 September 30,*								*Nine Months Ended September 30,*
		*2025*				*2024*				*2025*				*2024*

Net income		$	13,505			$	10,253			$	26,532			$	24,110

Basic weighted-average common shares outstanding			9,678				9,919				9,830				9,915
Effect of potentially dilutive common shares			135				136				136				125
Diluted weighted-average common shares outstanding			9,813				10,055				9,966				10,040

Net income per common share:
Basic		$	1.40			$	1.03			$	2.70			$	2.43
Diluted		$	1.38			$	1.02			$	2.66			$	2.40