Stockholders' Equity

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock — Our authorized capital stock consists of 60,000,000 shares of common stock with a par value of $0.01 per share; of which, 33,494,483 and 33,322,535 shares were issued and outstanding as of September 30, 2024 and December 31, 2023, respectively.

Preferred Stock — Our authorized capital stock also consists of 5,000,000 shares of preferred stock with a par value of $0.01 per share, with no preferred shares outstanding as of September 30, 2024 and December 31, 2023.

Earnings (Loss) Per Share - Basic earnings (loss) per share is determined by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share presented is determined by dividing net income (loss) by the weighted average number of common shares and potential common shares outstanding during the period as determined by the treasury stock method. Potential common shares are included in the diluted earnings per share calculation when dilutive.

Diluted earnings per share for the three and nine months ended September 30, 2024 and 2023 includes the effect of potential common shares issuable when dilutive, and is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net income	$	9,514	$	7,290	$	10,852	$	26,130
Net income (loss) from continuing operations	(883)		4,681		(736)		21,061
Net income from discontinued operations	10,397		2,609		11,588		5,069
Weighted average number of common shares outstanding (in '000s)	33,458		33,100		33,392		33,010
Dilutive effect of restricted stock grants after application of the Treasury Stock Method (in '000s)	—		250		—		398
Dilutive shares outstanding	33,458		33,350		33,392		33,408
Basic earnings (loss) per share from continuing operations	$	(0.03)	$	0.14	$	(0.02)	$	0.64
Basic earnings per share from discontinued operations	$	0.31	$	0.08	$	0.35	$	0.15
Diluted earnings (loss) per share from continuing operations	$	(0.03)	$	0.14	$	(0.02)	$	0.63
Diluted earnings per share from discontinued operations	$	0.31	$	0.08	$	0.35	$	0.15

There were 733 thousand outstanding restricted shares awarded that were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2024 and no outstanding restricted shares awarded were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2023. There were 409 thousand outstanding restricted shares awarded that were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2024 and no outstanding restricted shares awarded that were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2023.