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Note 3 - Earnings Per Share
 6 Months Ended
Jun. 30, 2023
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, 2023 and 2022, as follows: 

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2023

  

2022

  

2023

  

2022

 

Basic earnings per share calculation:

                

Net income (loss)

 $1,415  $(2,703) $2,184  $(5,107)

Weighted average number of common shares outstanding

  21,091,496   20,244,176   20,980,880   19,977,477 

Basic net income (loss) per share

 $0.07  $(0.13) $0.10  $(0.26)

Diluted earnings per share calculation:

                

Net income (loss)

 $1,415  $(2,703) $2,184  $(5,107)

Weighted average number of common shares outstanding

  21,091,496   20,244,176   20,980,880   19,977,477 

Common stock equivalents:

                

Non-vested stock awards (1)

  317,031   —   409,351   — 

Weighted average number of common shares outstanding

  21,408,527   20,244,176   21,390,231   19,977,477 

Diluted net income (loss) per share

 $0.07  $(0.13) $0.10  $(0.26)

 

(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 months and six months ended June 30, 2022.