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Note H - Earnings Per Share

9 Months Ended

Sep. 30, 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								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
		(in thousands, except per share data)
Net income		$	2,412			$	6,097			$	(217	)		$	20,648

Basic weighted average common shares outstanding			21,771				22,021				21,911				22,068
Dilutive effect of common stock equivalents			54				118				-				151
Diluted weighted average common shares outstanding			21,825				22,139				21,911				22,219

Basic earnings per share		$	0.11			$	0.28			$	(0.01	)		$	0.94
Diluted earnings per share		$	0.11			$	0.28			$	(0.01	)		$	0.93