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Earnings Per-Share
 6 Months Ended
Jun. 30, 2025
Earnings Per-Share  
Net Income Per-Share

Note 5 - Earnings Per-Share

 

Basic and diluted income per share is based on the weighted average number of shares of common stock and potential common stock outstanding during the period. Potential common stock, for the purpose of determining diluted income per share, includes the effects of dilutive unvested restricted stock, options to purchase common stock and convertible securities. The effect of such potential common stock is computed using the treasury stock method or the if-converted method, as applicable.

The following table presents a reconciliation of the numerators and denominators of the basic and diluted income per share computations for income from continuing operations. In the table below, income represents the numerator, and shares represent the denominator (in thousands except per share amounts):

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(unaudited)

 

 

(unaudited)

 

Basic Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$1,483

 

 

$1,402

 

 

$4,462

 

 

$1,417

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding

 

 

23,581

 

 

 

22,077

 

 

 

23,871

 

 

 

21,988

 

Basic Earnings per share

 

$0.06

 

 

$0.06

 

 

$0.19

 

 

$0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$1,483

 

 

$1,402

 

 

$4,462

 

 

$1,417

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding

 

 

23,581

 

 

 

22,077

 

 

 

23,871

 

 

 

21,988

 

Dilutive options and warrants outstanding

 

 

2,226

 

 

 

2,623

 

 

 

2,368

 

 

 

1,546

 

Number of shares used in diluted per-share computation

 

 

25,807

 

 

 

24,700

 

 

 

26,239

 

 

 

23,534

 

Diluted Earnings per share

 

$0.06

 

 

$0.06

 

 

$0.17

 

 

$0.06

 

 

For the three-month periods ended June 30, 2025 and 2024, respectively, 50,000 and 1,566,000 restricted shares and options were excluded from the calculation of dilutive shares because their effect would have been anti-dilutive. For the six-month periods ended June 30, 2025 and 2024, respectively, 50,000 and 2,471,000 restricted shares and options were excluded from the calculation of dilutive shares because their effect would have been anti-dilutive.