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Note H - Earnings Per Share
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE H:   EARNINGS PER SHARE

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive restricted stock. The computation of diluted earnings per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on earnings per share. The computations of basic and diluted earnings per share were as follows:

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2020

  

2019

  

2020

  

2019

 
  

(in thousands, except per share data)

 
                 

Net (loss) income

 $(823) $8,654  $(2,127) $16,955 
                 

Basic weighted average common shares outstanding

  5,766   5,901   5,756   5,911 

Dilutive effect of common stock equivalents

  -   48   -   51 

Diluted weighted average common shares outstanding

  5,766   5,949   5,756   5,962 
                 

Basic (loss) earnings per share

 $(0.14) $1.47  $(0.37) $2.87 

Diluted (loss) earnings per share

 $(0.14) $1.45  $(0.37) $2.84