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Note H - Earnings Per Share
 3 Months Ended
Mar. 31, 2022
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

March 31,

 
  

2022

  

2021

 
  

(in thousands, except per share data)

 
         

Net income

 $23,942  $11,949 
         

Basic weighted average common shares outstanding

  22,292   22,901 

Dilutive effect of common stock equivalents

  191   103 

Diluted weighted average common shares outstanding

  22,483   23,004 
         

Basic earnings per share

 $1.07  $0.52 

Diluted earnings per share

 $1.06  $0.52