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Note 3 - Earnings Per Share | 6 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Earnings Per Share [Text Block] | NOTE 3 — EARNINGS PER SHARE The following table presents a reconciliation of basic and diluted earnings per share for the three and six months ended June 30, 2022 and 2021, as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Basic earnings per share calculation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (2,703 | ) |  | $ | 10,252 |  |  | $ | (5,107 | ) |  | $ | 9,042 |
Weighted average number of common shares outstanding |  |  | 20,244,176 |  |  |  | 18,760,910 |  |  |  | 19,977,477 |  |  |  | 17,973,896 |
Basic net (loss) income per share |  | $ | (0.13 | ) |  | $ | 0.55 |  |  | $ | (0.26 | ) |  | $ | 0.50 |
Diluted earnings per share calculation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (2,703 | ) |  | $ | 10,252 |  |  | $ | (5,107 | ) |  | $ | 9,042 |
Weighted average number of common shares outstanding |  |  | 20,244,176 |  |  |  | 18,760,910 |  |  |  | 19,977,477 |  |  |  | 17,973,896 |
Common stock equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-vested stock awards (1) |  |  | — |  |  |  | 639,150 |  |  |  | — |  |  |  | 889,874 |
Weighted average number of common shares outstanding |  |  | 20,244,176 |  |  |  | 19,400,060 |  |  |  | 19,977,477 |  |  |  | 18,863,770 |
Diluted net (loss) income per share |  | $ | (0.13 | ) |  | $ | 0.53 |  |  | $ | (0.26 | ) |  | $ | 0.48 |
(1) Restricted stock units granted and outstanding of 829,890 as of June 30, 2022, are excluded from the computation of diluted earnings due to the anti-dilutive effect as a result of the Company’s net loss for the three and six months ended June 30, 2022.

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