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Note H - Earnings Per Share
 3 Months Ended
Mar. 31, 2024
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,

 
  

2024

  

2023

 
  

(in thousands, except per share data)

 
         

Net income

 $281  $5,231 
         

Basic weighted average common shares outstanding

  22,031   22,148 

Dilutive effect of common stock equivalents

  96   169 

Diluted weighted average common shares outstanding

  22,127   22,317 
         

Basic earnings per share

 $0.01  $0.24 

Diluted earnings per share

 $0.01  $0.23