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Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

(4) Earnings Per Share

Options to purchase approximately 1,871,000 and 1,901,000 shares of common stock that were outstanding as of September 30, 2022 but were not included in the computation of earnings per share for the three months and nine months ended September 30, 2022, respectively as it would be been anti-dilutive due to the losses. Options to purchase approximately 2,162,000 and 1,970,000 shares of common stock that were outstanding as of September 30, 2021 were included in the computation of earnings per share for the three months and nine months ended September 30, 2021, respectively.

Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:


		Three months ended September 30,								Nine months ended September 30,
		2022				2021				2022				2021

Numerator: (in Thousands)
Net (loss) income		$	(750	)		$	1,363			$	(638	)		$	2,714

Denominator:
Weighted average number of basic shares outstanding			49,174,673				48,566,431				49,068,709				43,756,300
Weighted average additional shares assuming conversion of in-the-money stock options to common shares			0				2,162,000				0				1,970,000
Weighted average number of diluted common shares outstanding			49,174,673				50,728,431				49,068,709				45,726,300

Basic earnings per common share:
Net (loss) income per share – basic		$	(0.02)			$	0.03			$	(0.01)			$	0.06
Diluted earnings per common share:
Net (loss) income per share – diluted		$	(0.02)			$	0.03			$	(0.01)			$	0.06