Earning Per Share

6 Months Ended

Jun. 30, 2024

12.

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)	2024		2023		2024		2023
Net income (loss)	$	5,804	$	1,347	$	11,530	$	(207	)
Basic weighted average common shares outstanding		36,970,768		16,228,069		36,966,371		15,856,574
Net effect of dilutive stock options and warrants		2,353		—		4,637		—
Net effect of dilutive restricted stock awards		67,627		—		71,888		—
Diluted weighted average common shares outstanding		37,040,748		16,228,069		37,042,896		15,856,574
Net income (loss) per common share:
Basic	$	0.16	$	0.08	$	0.31	$	(0.01	)
Diluted	$	0.16	$	0.08	$	0.31	$	(0.01	)

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,
	2024		2023		2024		2023
Stock Options		24,961		—		117,191		—
Warrants		—		—		—		—
Restricted Stock Awards		384,724		—		384,724		—
Total dilutive securities		409,685		—		501,915		—

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,
	2024		2023		2024		2023
Stock Options		599,000		284,200		506,500		214,700
Warrants		1,537,484		1,537,484		1,537,484		1,537,484
Restricted Stock Awards		120,000		—		120,000		—
Total anti-dilutive securities		2,256,484		1,821,684		2,163,984		1,752,184