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Note 16 - (Loss) Earnings Per Share
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 16 (LOSS) EARNINGS PER SHARE

 

The following table sets forth the reconciliation of numerators and denominators for the basic and diluted (loss) earnings per share computation for the years ended December 31, 2024 and December 31, 2023:

 

(in thousands, except per share data)

 

Years ended December 31,

 
  

2024

  

2023

 

Numerator:

        

(Loss) income from continuing operations

 $(8,113) $25,550 

Less: net income from continuing operations attributable to noncontrolling interests

  (977)  (453)

Less: dividends on preferred stock, net of tax

  (179)  (74)

Numerator used in calculating basic earnings per share from continuing operations attributable to common shareholders

 $(9,269) $25,023 

Adjustment to add-back dividends on preferred stock

     74 

Adjustment for proportionate interest in subsidiaries' loss attributable to common stock

     (6)

Numerator used in calculating diluted (loss) earnings per share from continuing operations attributable to common shareholders

 $(9,269) $25,091 

Loss from discontinued operations

  (182)  (1,538)

Numerator used in calculating diluted (loss) earnings per share - net (loss) income attributable to common shareholders

 $(9,451) $23,553 

Denominator:

        

Weighted average basic shares

        

Weighted average common shares outstanding

  27,192   25,713 

Weighted average diluted shares

        

Weighted average common shares outstanding

  27,192   25,713 

Effect of potentially dilutive securities (a)

        

Stock options

      

Unvested restricted stock awards

     735 

Convertible preferred stock

      

Total weighted average diluted shares

  27,192   26,448 

Basic (loss) earnings attributable to common shareholders:

        

Continuing operations

 $(0.34) $0.97 

Discontinued operations

 $(0.01) $(0.06)

Basic (loss) earnings per share - net (loss) income attributable to common shareholders

 $(0.35) $0.91 

Diluted (loss) earnings attributable to common shareholders:

        

Continuing operations

 $(0.34) $0.95 

Discontinued operations

 $(0.01) $(0.06)

Diluted (loss) earnings per share - net (loss) income attributable to common shareholders

 $(0.35) $0.89 

 

 

(a)

Potentially dilutive securities consist of stock options and unvested restricted stock awards, calculated using the treasury stock method, and convertible preferred stock, using the if-converted method.  Because the Company is reporting a loss from continuing operations attributable to common shareholders for the year ended December 31, 2024, all potentially dilutive securities outstanding were excluded from the calculation of diluted loss from continuing operations per share since their inclusion would have been anti-dilutive

 

Basic (loss) earnings 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 (loss) earnings 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 (loss) earnings 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 (loss) earnings per share calculations above because they would have had an antidilutive effect on the (loss) earnings per share:

 

  

Years ended December 31,

 
  

2024

  

2023

 

Stock options

  265,000    

Unvested restricted stock awards

  443,302    

Convertible preferred stock

  868,421    

Total

  1,576,723