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Note 2 - Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

2. Income (loss) per share

Basic income (loss) 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 (loss) 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 nine months ended September 30, 2020 and 2019, basic and diluted income (loss) per share was as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2020				2019				2020				2019
Numerator:
Net income (loss)		$	1,169			$	(4,463	)		$	2,029			$	(2,703	)
Denominator:
Weighted average shares outstanding			76,315,973				76,769,339				76,111,405				76,296,825
Weighted average restricted shares vested not delivered			2,262,001				2,799,871				2,452,857				3,092,306
Total basic weighted average shares outstanding			78,577,974				79,569,210				78,564,262				79,389,131
Dilutive effect of assumed conversion of restricted stock units			594,604				—				650,357				—
Dilutive effect of assumed conversion of warrants			—				—				—				—
Dilutive effect of assumed conversion of stock options			—				—				—				—
Total diluted weighted average shares outstanding			79,172,578				79,569,210				79,214,619				79,389,131
Basic and diluted income (loss) per share:
Basic		$	0.01			$	(0.06	)		$	0.03			$	(0.03	)
Diluted		$	0.01			$	(0.06	)		$	0.03			$	(0.03	)

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 September 30,								Nine Months Ended September 30,
		2020				2019				2020				2019
Restricted stock units			1,589,498				3,794,227				1,639,561				3,794,227
Stock options			2,509,000				2,120,000				2,509,000				2,120,000
Warrants			833,333				2,398,776				833,333				2,398,776
Total anti-dilutive securities			4,931,831				8,313,003				4,981,894				8,313,003

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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