XML 40 R27.htm IDEA: XBRL DOCUMENT v3.20.4
NET INCOME PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2020
NET INCOME PER SHARE [Abstract]  
Reconciliation of Numerator and Denominator of Diluted Net Income Per Share Computations
The following is a reconciliation of the numerator and denominator of the diluted net income per share computations for the periods presented below:

  
Year Ended December 31,
 
(in thousands, except share data)
 
2020
  
2019
 
Numerator:
      
Net income
 
$
48,565
  
$
2,015
 
Less: preferred stock dividend
  
(1,378
)
  
-
 
Less: allocation to preferred stockholders
  
(8,224
)
  
(54
)
Less: allocation to restricted stockholders
  
(2,150
)
  
(38
)
Net income allocated to common stockholders
 
$
36,813
  
$
1,923
 
         
Basic net income per share:
        
Denominator:
        
Weighted average common shares outstanding
  
24,748,496
   
24,554,033
 
Basic net income per share
 
$
1.49
  
$
0.08
 
         
Diluted net income per share:
        
Denominator:
        
Weighted average number of:
        
Common shares outstanding
  
24,748,496
   
24,554,033
 
Dilutive potential common shares outstanding:
        
Series A Preferred Stocck
  
-
   
-
 
Unvested restricted stock
  
-
   
-
 
Stock options
  
-
   
-
 
Dilutive shares outstanding
  
24,748,496
   
24,554,033
 
Diluted net income per share
 
$
1.49
  
$
0.08
 
Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table summarizes the potential weighted average shares of common stock that were excluded from the determination of our diluted shares outstanding as they were anti-dilutive:

  
Year Ended December 31,
 

 
2020
  
2019
 
Series A preferred stock
  
-
   
-
 
Unvested restricted stock
  
632,693
   
88,848
 
   
632,693
   
88,848