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Note 13 - Earnings Per Share ("EPS")
 3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

13.

Earnings Per Share (“EPS”)

 

Basic EPS is calculated by dividing net income by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic earnings per share. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options (including TSRs), SARs, RSAs, RSUs, and PSUs using the treasury stock method.

 

The following table provides share information used in the calculation of the Company's basic and diluted earnings per share (in thousands):

 

   

Three Months Ended March 31,

  
   

2021

    

2020

  

Shares used in the calculation of basic earnings per share

     14,343       14,202  

Effect of dilutive securities:

                

Stock options, RSAs, PSUs and RSUs

     92       151  

Diluted shares used in the calculation of earnings per share

     14,435       14,353  

 

Stock options of 1.2 million and 0.6 million shares were outstanding for the three-month periods ended March 31, 2021 and 2020, respectively, and were not included in the computation of diluted EPS because the awards’ impact on EPS would have been anti-dilutive.