Earnings per Share

6 Months Ended

Jun. 30, 2025

NOTE 2 – Earnings per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. No dividends were paid on our Common Stock in any of the periods presented in this report.

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Earnings (numerator)
Net income attributable to common stockholders	$	46,098	$	8,000	$	41,661	$	22,038

Shares (denominator)
Weighted average common shares outstanding (basic)		46,398		46,133		46,385		46,083
Dilutive effect of stock options and stock awards outstanding		64		191		67		237
Adjusted weighted average common shares outstanding (diluted)		46,462		46,324		46,452		46,320

Earnings per share attributable to common stockholders
Basic	$	0.99	$	0.17	$	0.90	$	0.48
Diluted	$	0.99	$	0.17	$	0.90	$	0.48

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		704		380		612		270