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Note 9 - Earnings (Loss) Per Share
 3 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 9. Earnings (Loss) Per Share

 

The following table presents a reconciliation of the denominators used in the computation of basic and diluted earnings (loss) per share:

 

  

Three Months Ended June 30,

 
  

2024

  

2023

 

Net income (loss) available for shareholders

 $3,388  $(549)

Weighted average outstanding shares of common stock

  5,397   5,372 

Dilutive effect of stock options

  -   - 

Dilutive effect of RSUs

  27   - 

Fully diluted shares

  5,424   5,372 
         

Basic earnings (loss) per share

 $0.63  $(0.10)

Diluted earnings (loss) per share

 $0.62  $(0.10)

 

Potentially dilutive securities include stock options and both time and performance based RSUs (collectively "stock awards"), as well as common shares underlying our Notes. Stock awards are excluded from the calculation of diluted EPS if they are subject to performance conditions that have not yet been achieved or if they are antidilutive. Diluted EPS does not consider the impact of potentially dilutive securities in periods in which there is a loss because the inclusion of the potential common shares would have an antidilutive effect in such cases.

 

The following stock awards were excluded from the calculation of diluted EPS:

 

  

Three Months Ended June 30,

 
  

2024

  

2023

 

Assumed conversion of the Notes

  373   608 

Stock awards that were anti-dilutive

  209   227 

Total stock awards excluded from diluted EPS

  582   835 

 

Shares underlying the Notes were excluded from the diluted EPS calculation for the three months ended June 30, 2024 and 2023 as the impact of the assumed conversion of the Notes calculated under the if-converted method was antidilutive. The decrease in assumed conversion of the Notes is related to the partial repayment of the Notes that occurred in the three months ended June 30, 2024 (see Note 7. "Indebtedness").