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Note 11 - Net Income Per Share
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

11. NET INCOME PER SHARE

 

The calculation of net income per common share for the three and nine months ended September 30, 2025 and 2024 are presented below. Dilutive securities consist of unvested restricted stock units ("RSUs") deemed outstanding using the treasury method. There were no dilutive securities at  September 30, 2025, as all RSUs had vested and 2,074,505 stock options had exercise prices exceeding the market price and were therefore excluded from earnings per share at  September 30, 2025. At  September 30, 2024 5,059 RSUs were excluded from dilutive securities under the treasury method; 2,074,505 stock options were also excluded, as the exercise price exceeded the market price, and 658,437 stock appreciation rights ("SARs") were excluded, as the exercise price exceeded the market price. The SARs expired unexercised on December 31, 2024. 

 

  

Three Months Ended

  

Nine Months Ended

 
  

September 30,

  

September 30,

 
  

2025

  

2024

  

2025

  

2024

 

Weighted average shares:

                

Basic weighted average number of common shares outstanding

  18,596,301   18,585,014   18,594,677   18,582,970 

Dilutive securities

  —   8,530   —   8,530 

Total shares including dilutive securities

  18,596,301   18,593,544   18,594,677   18,591,500 
                 

Net income (loss)

 $1,119  $997  $(1,092) $2,493 
                 

Net income (loss) per common share:

                

Basic net income (loss) per common share

 $0.06  $0.05  $(0.06) $0.13 

Diluted net income (loss) per common share

 $0.06  $0.05  $(0.06) $0.13