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Note 19 - Earnings Per Common Share
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

19. Earnings Per Common Share:

 

The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computation (Dollar amounts in thousands of US dollars, except for share data):

 

  

Year ended December 31,

 
  

2023

  

2022

  

2021

 
             

Numerator for basic and diluted earnings per common share:

            

Net income (loss) for the period

 $(96,197) $(27,571) $3,364 
             

Denominator for basic and diluted earnings per common share:

            

Basic weighted average number of common shares outstanding

  10,864,086   10,769,280   10,662,337 

Effect of outstanding stock options

  -   -   155,132 

Diluted weighted average number of shares outstanding

  10,864,086   10,769,280   10,817,468 
             

Basic earnings per common share

 $(8.85) $(2.56) $0.32 
             

Diluted earnings per common share

 $(8.85) $(2.56) $0.31 

 

For the year ended  December 31, 2023, and  December 31, 2022 the Company recorded a net loss, thus all outstanding options were considered anti-dilutive and excluded from the computation of diluted income per common share.

 

For the year ended December 31, 2021, options to purchase 39,889 common shares were outstanding but were not included in the computation of diluted income per common share because the options' exercise price was greater than the average market price of the common shares for the year.