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EARNINGS PER SHARE
12 Months Ended
Dec. 31, 2023
EARNINGS PER SHARE  
EARNINGS PER SHARE

(6)   EARNINGS PER SHARE

The calculation of basic and diluted earnings per share for the years ended December 31, 2023 and 2022 are as follows (in thousands, except per share data):

For the Years Ended December 31, 

    

2023

    

2022

Basic earnings per share

 

  

 

  

Net income

$

9,732

$

17,048

Basic weighted average shares outstanding

 

35,555

 

38,467

Basic earnings per share

$

0.27

$

0.44

Diluted earnings per share

 

  

 

  

Net income

$

9,732

$

17,048

Weighted average shares outstanding

 

35,555

 

38,467

Effect of dilutive securities - options and restricted stock

 

587

 

660

Diluted weighted-average shares outstanding

 

36,142

 

39,127

Diluted earnings per share

$

0.27

$

0.44

For the years ended December 31, 2023 and 2022, 36,000 and 0.1 million shares of common stock, respectively, were excluded from the dilutive stock calculation because their effect would have been anti-dilutive.

For the year ended December 31, 2023, convertible notes to purchase 3.6 million shares resulting from the 2023 Convertible Senior Notes, were excluded from the dilutive stock calculation because their effect would have been anti-dilutive (see Note 8 – Convertible Senior Notes).