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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2025
EARNINGS PER SHARE [Abstract] |
EARNINGS PER SHARE | 5. EARNINGS PER SHARE Basic earnings per share (“EPS”) are computed based on the weighted average number of common shares outstanding during the period. Diluted EPS includes additional common shares that would have been outstanding if potential common shares with a dilutive effect, such as stock awards from the Company’s restricted stock plan, had been issued. Anti-dilutive securities represent potentially dilutive securities which are excluded from the computation of diluted EPS as their impact would be anti-dilutive. Diluted EPS is computed using the treasury stock method. The following table sets forth the computation of basic and diluted EPS for the three and nine months ended September 30, 2025 and 2024:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands, except share data) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (1,352 | ) |  | $ | (132 | ) |  | $ | 10,032 |  |  | $ | 495 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding |  |  | 8,142,441 |  |  |  | 8,422,514 |  |  |  | 8,378,083 |  |  |  | 8,412,923 |
Dilutive effect of service-based restricted stock awards granted to Board of Directors under the Plan |  |  | - |  |  |  | - |  |  |  | 17,555 |  |  |  | 2,041 |
Dilutive effect of service-based restricted stock awards granted to employees under the Plan |  |  | - |  |  |  | - |  |  |  | 107,149 |  |  |  | 96,935 |
Diluted weighted-average common shares outstanding |  |  | 8,142,441 |  |  |  | 8,422,514 |  |  |  | 8,502,787 |  |  |  | 8,511,899 |
Basic earnings (loss) per share |  |  | (0.17 | ) |  |  | (0.02 | ) |  |  | 1.20 |  |  |  | 0.06 |
Diluted earnings (loss) per share |  |  | (0.17 | ) |  |  | (0.02 | ) |  |  | 1.18 |  |  |  | 0.06 |

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