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Note 2 - Income Per Share

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

2. Income per share

Basic income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period, in addition to restricted stock units ("RSUs") and restricted common stock that are vested but not delivered. Diluted income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock are exercised or converted into common stock and is calculated using the treasury stock method for stock options, restricted stock units, restricted stock, warrants and deferred common stock. Common equivalent shares are excluded from the calculation in loss periods, as their effects would be anti-dilutive.

For the three and six months ended June 30, 2020 and 2019, basic and diluted income per share was as follows:

		*Three Months Ended June 30,*								*Six Months Ended June 30,*
		*2020*				*2019*				*2020*				*2019*
Numerator:
Net income		$	452			$	715			$	860			$	1,760
Denominator:
Weighted average shares outstanding			76,244,975				76,487,160				76,007,997				76,056,652
Weighted average restricted shares vested not delivered			2,265,408				2,901,223				2,549,334				3,240,947
Total basic weighted average shares outstanding			78,510,383				79,388,383				78,557,331				79,297,599
Dilutive effect of assumed conversion of restricted stock units			156,393				1,408,277				348,461				882,263
Dilutive effect of assumed conversion of warrants			—				329,808				—				262,567
Dilutive effect of assumed conversion of stock options			—				5,836				—				1,101
Total diluted weighted average shares outstanding			78,666,776				81,132,304				78,905,792				80,443,530
Basic and diluted income per share:
Basic		$	0.01			$	0.01			$	0.01			$	0.02
Diluted		$	0.01			$	0.01			$	0.01			$	0.02

The following potentially dilutive securities were excluded from the calculation of diluted income per share, as their effects would have been anti-dilutive for the periods presented:

		*Three Months Ended June 30,*								*Six Months Ended June 30,*
		*2020*				*2019*				*2020*				*2019*
Restricted stock units			3,412,390				110,000				2,288,573				1,740,502
Stock options			2,568,000				2,060,000				2,568,000				2,060,000
Warrants			2,183,333				1,350,000				2,183,333				1,350,000
Total anti-dilutive securities			8,163,723				3,520,000				7,039,906				5,150,502