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Note H - Earnings Per Share
 6 Months Ended
Jun. 30, 2023
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,

 
  

2023

  

2022

  

2023

  

2022

 
  

(in thousands, except per share data)

 
                 

Net income

 $9,319  $24,182  $14,550  $48,124 
                 

Basic weighted average common shares outstanding

  22,036   22,268   22,092   22,283 

Dilutive effect of common stock equivalents

  146   177   161   191 

Diluted weighted average common shares outstanding

  22,182   22,445   22,253   22,474 
                 

Basic earnings per share

 $0.42  $1.09  $0.66  $2.16 

Diluted earnings per share

 $0.42  $1.08  $0.65  $2.14