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Note 17- Earnings Per Share ("EPS")
 12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

17. Earnings per Share (“EPS”)

 

Basic EPS is calculated by dividing net income (loss) 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):

 

  

Years Ended December 31,

 
  

2022

  

2021

  

2020

 

Shares used in the calculation of basic EPS

  14,561   14,401   14,222 

Effect of dilutive securities:

            

Share based awards

  -   233   - 

Diluted shares used in the calculation of EPS

  14,561   14,634   14,222 

 

Stock options of 1.1 million shares were outstanding for the year ended December 31, 2021 and were not included in the computation of diluted EPS because the awards’ impact on EPS would have been anti-dilutive. The Company was in a loss position during the years ended December 31, 2022 and 2020, therefore all potential common shares would have been anti-dilutive and accordingly were excluded from the computation of diluted EPS.