Note 8 - Basic and Diluted Income

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 8. BASIC AND DILUTED INCOME

The Company computes net income per share in accordance with accounting guidance that requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the condensed consolidated statement of operations and comprehensive income. Basic EPS is computed by dividing net income attributable to common stock for the period by the weighted average number of shares outstanding during the period. Basic EPS includes common stock weighted for average number of shares issued during the period. Diluted EPS is computed by dividing net income attributable to common stock for the period by the weighted average number of common shares outstanding during the period, increased by potentially dilutive common shares that were outstanding during the period. Diluted EPS excludes all potential dilutive shares if their effect is anti-dilutive. Potentially dilutive common shares include stock options and restricted stock (see Note 10. "Stock-Based Compensation").

	Three Months Ended March 31, 2025		Three Months Ended March 31, 2024
Numerator:
Net income	$	3,211	$	4,345
Less: Net income attributable to participating securities	$	175	$	326
Net income attributable to common stock	$	3,036	$	4,019
Denominator:
Weighted average of common shares outstanding, basic		41,266		39,205
Potential dilutive effect of stock options		70		141
Weighted average of common shares outstanding, diluted		41,336		39,346

Excluded from the calculation of diluted EPS for the three months ended  March 31, 2025 were 425,286 restricted shares, subject to performance vesting conditions that have not been met yet. Participating securities of 2,378,770 were allocated to income in the calculation of EPS for the three months ended  March 31, 2025.