Note 3 - Earnings Per Share

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 3 — EARNINGS PER SHARE 

The following table presents a reconciliation of basic and diluted earnings per share for the three months ended March 31, 2023 and 2022, as follows: 

	Three Months Ended
	March 31,
	2023		2022
Basic earnings per share calculation:
Net income (loss)	$	769	$	(2,404	)
Weighted average number of common shares outstanding		20,869,035		19,707,815
Basic net income (loss) per share	$	0.04	$	(0.12	)
Diluted earnings per share calculation:
Net income (loss)	$	769	$	(2,404	)
Weighted average number of common shares outstanding		20,869,035		19,707,815
Common stock equivalents:
Non-vested stock awards (1)		517,979		—
Weighted average number of common shares outstanding		21,387,014		19,707,815
Diluted net income (loss) per share	$	0.04	$	(0.12	)

(1) Restricted stock units granted and outstanding of 623,191 as of March 31, 2022, are excluded from the computation of diluted earnings due to the anti-dilutive effect as a result of the Company’s net loss for the three months ended March 31, 2022.