Note 3 - Earnings Per Share

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

3. EARNINGS PER SHARE

The following table presents a reconciliation of basic and diluted earnings per share for the years ended December 31, 2022 and 2021 as follows:

	For the Years Ended December 31,
	2022			2021
Basic earnings per share calculation:
Net (loss) income	$	(9,730	)	$	2,847
Weighted average number of common shares outstanding		20,298,641			18,726,459
Basic net (loss) income per share	$	(0.48	)	$	0.15
Diluted earnings per share calculation:
Net (loss) income	$	(9,730	)	$	2,847
Weighted average number of common shares outstanding		20,298,641			18,726,459
Common stock equivalents:
Non-vested stock awards (1)		—			662,030
Weighted average number of common shares outstanding		20,298,641			19,388,489
Diluted net (loss) income per share	$	(0.48	)	$	0.15

(1)   Restricted stock units granted and outstanding of 822,737 are excluded from the computation of diluted earnings for the year ended December 31, 2022 due to the anti-dilutive effect as a result of the Company’s net loss for that period.