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Note 16 - Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 16 EARNINGS (LOSS) PER SHARE

The following table sets forth the reconciliation of numerators and denominators for the basic and diluted earnings (loss) per share computation for the years ended December 31, 2023 and December 31, 2022:

(in thousands, except per share data)		Years ended December 31,
		2023				2022
Numerator:
Income from continuing operations		$	25,550			$	30,132
(Less) plus: net (income) loss from continuing operations attributable to noncontrolling interests			(453	)			1,471
Less: dividends on preferred stock, net of tax			(74	)			(306	)
Numerator used in calculating basic earnings per share from continuing operations attributable to common shareholders		$	25,023			$	31,297
Adjustment to add-back dividends on preferred stock			74				306
Adjustment for proportionate interest in subsidiaries' (loss) earnings attributable to common stock			(6	)			76
Numerator used in calculating diluted earnings per share from continuing operations attributable to common shareholders		$	25,091			$	31,679
Loss from discontinued operations			(1,538	)			(15,067	)
Plus: net loss from discontinued operations attributable to noncontrolling interests			—				8,186
Numerator used in calculating diluted earnings per share - net income attributable to common shareholders		$	23,553			$	24,798
Denominator:
Weighted average basic shares
Weighted average common shares outstanding			25,713				22,961
Weighted average diluted shares
Weighted average common shares outstanding			25,713				22,961
Effect of potentially dilutive securities (a)
Unvested restricted stock awards			735				596
Warrants			—				811
Convertible preferred stock			—				936
Total weighted average diluted shares			26,448				25,304
Basic earnings (loss) attributable to common shareholders:
Continuing operations		$	0.97			$	1.36
Discontinued operations		$	(0.06	)		$	(0.30	)
Basic earnings per share - net income attributable to common shareholders		$	0.91			$	1.06
Diluted earnings (loss) attributable to common shareholders:
Continuing operations		$	0.95			$	1.25
Discontinued operations		$	(0.06	)		$	(0.27	)
Diluted earnings per share - net income attributable to common shareholders		$	0.89			$	0.98

(a) Potentially dilutive securities consist of unvested restricted stock awards and warrants, calculated using the treasury stock method, and convertible preferred stock, using the if-converted method.

Basic earnings (loss) per share excludes dilution and is computed by dividing income attributable to common shareholders by the weighted-average number of common shares outstanding for the period.  Diluted earnings (loss) per share is calculated using weighted-average diluted shares. Weighted-average diluted shares is calculated by adding the effect of potentially dilutive securities to weighted-average common shares outstanding.  Potentially dilutive securities are excluded from the diluted earnings (loss) per share computation in loss periods and when the applicable exercise price is greater than the market price on the period end date as their effect would be anti-dilutive.

The following weighted-average potentially dilutive securities are not included in the diluted earnings (loss) per share calculations above because they would have had an antidilutive effect on the earnings (loss) per share:

		Years ended December 31,
		2023				2022
Unvested restricted stock awards			—				25,111
Warrants			—				—
Convertible preferred stock			—				—
Total			—				25,111

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
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-Topic 260
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-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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