XML 23 R13.htm IDEA: XBRL DOCUMENT

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE (7) EARNINGS PER SHARE

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding and the number of dilutive potential common share equivalents during the period, calculated using the treasury-stock method for outstanding stock options. In periods of losses, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential common shares outstanding would be anti-dilutive.

The calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2022 and 2021 are as follows (in thousands, except per share data):


		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2022			2021			2022			2021
Basic earnings per share
Net income available to common stockholders		$	4,873		$	6,107			9,596			8,209
Basic weighted-average shares outstanding			38,046			38,245			38,881			38,286

Basic earnings per share		$	0.13		$	0.16			0.25			0.21

Diluted earnings per share
Net income available to common stockholders		$	4,873		$	6,107			9,596			8,209
Weighted-average shares outstanding			38,046			38,245			38,881			38,286
Effect of dilutive securities - options and restricted stock			819			798			848			856
Diluted weighted-average shares outstanding			38,865			39,043			39,729			39,142

Diluted earnings per share		$	0.13		$	0.16			0.24			0.21

For both the three and nine months ended September 30, 2022, options to purchase 6,000 and 22,000 shares of common stock were excluded from the dilutive stock calculation, respectively, because their effect would have been anti-dilutive.

For both the three and nine months ended September 30, 2021, options to purchase 268,000 and 176,000 shares of common stock were excluded from the dilutive stock calculation, respectively, because their effect would have been anti-dilutive.