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Note H - Earnings Per Share
 9 Months Ended
Sep. 30, 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

  

Nine Months Ended

 
  

September 30,

  

September 30,

 
  

2022

  

2021

  

2022

  

2021

 
  

(in thousands, except per share data)

 
                 

Net income

 $24,566  $21,359  $72,690  $48,625 
                 

Basic weighted average common shares outstanding

  22,263   22,724   22,276   22,842 

Dilutive effect of common stock equivalents

  177   136   192   120 

Diluted weighted average common shares outstanding

  22,440   22,860   22,468   22,962 
                 

Basic earnings per share

 $1.10  $0.94  $3.26  $2.13 

Diluted earnings per share

 $1.09  $0.93  $3.24  $2.12