XML 25 R15.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Note 8 - Net Income Per Share
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 8 – Net Income Per Share:

 

The Company’s basic net income per share is computed based on the weighted average number of shares of common stock outstanding for the period. Diluted net income per share includes the effect of the Company’s outstanding stock options, stock appreciation rights, nonvested shares of restricted stock and nonvested performance shares, if the inclusion of these items is dilutive.

 

The following table presents a reconciliation of basic and diluted net income per share for the periods presented:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2024

  

2023

  

2024

  

2023

 

Net income used in the computation of basic and diluted net income per share (in thousands)

 $600  $1,213  $4,512  $2,101 
                 

Weighted average shares outstanding - basic

  16,221,073   15,987,007   16,124,553   15,935,001 

Dilutive common stock equivalents

  548,224   137,809   486,822   186,572 

Weighted average shares outstanding - diluted

  16,769,297   16,124,816   16,611,375   16,121,573 

Net income per share:

                

Basic

 $0.04  $0.08  $0.28  $0.13 

Diluted

 $0.04  $0.08  $0.27  $0.13 

 

Awards to purchase 295,361 and 1,268,882 shares of common stock with weighted average exercise prices of $21.90 and $15.19 per share were outstanding during the three months ended June 30, 2024 and 2023, respectively, but were not included in the computation of diluted net income per share because the awards’ exercise prices were greater than the average market price of the common shares.

 

Awards to purchase 347,718 and 1,138,927 shares of common stock with weighted average exercise prices of $21.38 and $16.11 per share were outstanding during the six months ended June 30, 2024 and 2023, respectively, but were not included in the computation of diluted net income per share because the awards’ exercise prices were greater than the average market price of the common shares.