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Note 4 - Net (Loss) Income Per Share
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 4 – Net (Loss) 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 March 31,

 
  

2025

  

2024

 

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

 $(758) $3,912 
         

Weighted average shares outstanding - basic

  15,599,655   16,028,032 

Dilutive common stock equivalents

  -   425,420 

Weighted average shares outstanding - diluted

  15,599,655   16,453,452 

Net (loss) income per share:

        

Basic

 $(0.05) $0.24 

Diluted

 $(0.05) $0.24 

 

Diluted weighted average shares outstanding excludes shares of common stock of 445,786 for the three months ended March 31, 2025, as their inclusion would have been antidilutive given the Company's net loss.

 

Awards to purchase 304,392 and 400,075 shares of common stock with weighted average exercise prices of $21.23 and $20.86 per share were outstanding during the three months ended March 31, 2025 and 2024, 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.