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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2021
EARNINGS PER SHARE  
NOTE 9 - EARNINGS PER SHARE

NOTE 9 – 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

 

 

Nine Months Ended

 

 

 

September 30,
2021

 

 

September 30,
2020

 

 

September 30,
2021

 

 

September 30,
2020

 

(in thousands except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$12

 

 

($707)

 

 

($350)

 

 

($2,318)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic

 

 

 

 

 

 

 

 

 

 

 

 

 

earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

 

8,621

 

 

 

8,394

 

 

 

8,519

 

 

 

8,305

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee stock options and awards

 

 

139

 

 

 

69

 

 

 

-

 

 

 

57

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted weighted-average shares &

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

assumed conversions of stock options

 

 

8,760

 

 

 

8,463

 

 

 

8,519

 

 

 

8,362

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

 

$0.00

 

 

($0.09)

 

 

($0.04)

 

 

($0.28)

 

Diluted earnings (loss) per share

 

$0.00

 

 

($0.09)

 

 

($0.04)

 

 

($0.28)

 

 

Weighted average options to purchase 12,500 shares for the three month period ending September 30, 2021 were excluded from the computation of diluted earnings per share as the options were anti-dilutive. Other periods presented are net loss, and thus weighted average options to purchase anti-dilutive shares were excluded from the diluted earnings per share for those periods. For the nine months ending September 30, 2021, there were 20,421 weighted average options to purchase anti-dilutive share. For both the three and nine months ending September 30, 2020, there were 25,000 weighted average options to purchase anti-dilutive shares.