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Note 13 - Earnings Per Share ("EPS")
 6 Months Ended
Jun. 30, 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 EPS. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding share-based awards using the treasury stock method.

 

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

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2021

  

2020

  

2021

  

2020

 

Shares used in the calculation of basic EPS

  14,393   14,199   14,368   14,201 

Effect of dilutive securities:

                

Share based awards

  234   -   215   - 

Diluted shares used in the calculation of EPS

  14,627   14,199   14,583   14,201 

 

Stock options of 1.0 million shares were outstanding for each of the three-month periods ended June 30, 2021 and 2020 and were not included in the computation of diluted EPS because the awards’ impact on EPS would have been anti-dilutive. Stock options of 1.1 million and 0.9 million shares were outstanding for the six-month periods ended June 30, 2021 and 2020 and were not included in the computation of diluted EPS because the awards’ impact on EPS would have been anti-dilutive.