Earning Per Share

6 Months Ended

Jun. 30, 2023

11.

EARNINGS PER SHARE

The following table sets forth the composition of earnings per share:


	Three Months Ended June 30,				Six Months Ended June 30,
(In Thousands, except share and per share data)	2023		2022		2023			2022
Net income (loss)	$	1,347	$	1,606	$	(207	)	$	3,130
Basic weighted average common shares outstanding		16,228,069		9,836,984		15,856,574			9,831,739
Net effect of dilutive stock options and warrants		—		76,493		—			152,003
Diluted weighted average common shares outstanding		16,228,069		9,913,477		15,856,574			9,983,742
Net income (loss) per common share:
Basic	$	0.08	$	0.16	$	(0.01	)	$	0.32
Diluted	$	0.08	$	0.16	$	(0.01	)	$	0.31

The following is a summary of securities that could potentially dilute basic earnings per common share in future periods that were included in the computation of diluted earnings per common share in the periods presented.


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Share-based compensation awards		—		195,700		—		195,700
Warrants		—		1,537,484		—		1,537,484
Total dilutive securities		—		1,733,184		—		1,733,184

The following is a summary of securities that could potentially dilute basic earnings per share in future periods that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Share-based compensation awards		284,200		—		214,700		—
Warrants		1,537,484		—		1,537,484		—
Total anti-dilutive securities		1,821,684		—		1,752,184		—