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NOTE 8 - EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

NOTE 8 - EARNINGS PER SHARE

Basic earnings per share is calculated based on the weighted average number of common shares outstanding during each period. Diluted earnings per share is calculated based on these same weighted average shares outstanding plus the effect of potential shares issuable upon assumed exercise of stock options based on the treasury stock method.

Potential shares issuable upon the exercise of stock options are excluded from the calculation of diluted earnings per share to the extent their effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share:

		Three Months Ended
		March 31, 2021				March 31, 2020
(in thousands except per share data)
Numerator for basic and diluted
earnings (loss) per share:
Net income (loss)		$	(333	)		$	(554	)

Denominator for basic
earnings (loss) per share:
Weighted-average shares			8,420				8,219

Employee stock options and awards			251				56

Denominator for diluted
earnings (loss) per share:
Adjusted weighted-average shares &
assumed conversions of stock options			8,671				8,275

Basic and diluted
earnings (loss) per share:
Total basic earnings (loss) per share		$	(0.04	)		$	(0.07	)
Total diluted earnings (loss) per share		$	(0.04	)		$	(0.07	)

Options to purchase 25,000 and 25,000 shares respectively were outstanding as of March 31, 2021 and 2020, but were excluded from the computation of diluted earnings per share for the periods then ended because the options were anti-dilutive.