Earnings Per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share

Earnings Per Share

Note 14. Earnings Per Share

The Company computes earnings per share in accordance with ASC Topic 260, Earnings per Share. In accordance with ASC 260, outstanding options will be considered to have been exercised and outstanding as of the beginning of the period if the average market price of the common stock during the period exceeds the exercise price of the options (they are “in the money”), and the assumed exercise of the options do not have an anti-dilutive impact on earnings per share.

A reconciliation of basic and diluted net income (loss) per share attributable to the Company were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Net income (loss) attributable to MEC	$	(2,675)	$	2,974	$	(3,752)	$	9,997
Weighted average shares outstanding		20,423,858		20,715,275		20,485,995		20,601,702
Basic income (loss) per share	$	(0.13)	$	0.14	$	(0.18)	$	0.49
Weighted average shares outstanding		20,423,858		20,715,275		20,485,995		20,601,702
Effect of dilutive stock-based compensation		259,202		408,219		249,105		291,614
Total potential shares outstanding		20,683,060		21,123,494		20,735,100		20,893,316
Diluted income (loss) per share	$	(0.13)	$	0.14	$	(0.18)	$	0.48

There were no options in the money that were excluded in the computation of diluted earnings per share for the three and nine months ended September 30, 2025 and 2024 that had an anti-dilutive impact on earnings per share.