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EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2025

EARNINGS PER SHARE

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, 2025				September 30, 2024				September 30, 2025				September 30, 2024
(in thousands except per share data)
Numerator for basic and diluted earnings (loss) per share:
Net income (loss)		$	(1,362	)		$	(307	)		$	(2,486	)		$	(1,911	)

Denominator for basic earnings (loss) per share:
Weighted-average shares			9,389				9,235				9,308				9,121

Employee stock options and awards			-				-				-				-

Denominator for diluted earnings (loss) per share:
Adjusted weighted-average shares & assumed conversions of stock options			9,389				9,235				9,308				9,121

Basic and diluted earnings (loss) per share:
Basic earnings (loss) per share		$	(0.15	)		$	(0.03	)		$	(0.27	)		$	(0.21	)
Diluted earnings (loss) per share		$	(0.15	)		$	(0.03	)		$	(0.27	)		$	(0.21	)

The weighted average number of shares outstanding used to compute earnings (loss) per share included the following:

		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024

Restricted Stock Units			46,217				10,214				67,211				71,265
Performance Stock Units			17,726				7,312				18,554				9,222
Stock Options			-				-				-				151

Options to purchase 200,000 and 34,398 shares were outstanding as of September 30, 2025 and 2024, respectively, but were excluded from the computation of diluted earnings per share for the periods then ended because the options were anti-dilutive.