NOTE 8 - EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

NOTE 8 - EARNINGS PER SHARE

Basic earnings per share is calculated based on the weighted average number of common shares outstanding during each period.  Diluted earnings per share is calculated based on these same weighted average shares outstanding plus the effect of potential shares issuable upon assumed exercise of stock options based on the treasury stock method. 

Potential shares issuable upon the exercise of stock options are excluded from the calculation of diluted earnings per share to the extent their effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended					Six Months Ended
	June 30, 2020			June 30, 2019		June 30, 2020			June 30, 2019
(in thousands except per share data)
Numerator for basic and diluted
earnings (loss) per share:
Net income (loss)	$	(1,057	)	$	127	$	(1,611	)	$	153
Denominator for basic
earnings (loss) per share:
Weighted-average shares		8,302			8,257		8,261			8,280
Employee stock options and awards		46			75		51			95
Denominator for diluted
earnings (loss) per share:
Adjusted weighted-average shares &
assumed conversions of stock options		8,348			8,332		8,312			8,375
Basic and diluted
earnings (loss) per share:
Total basic earnings (loss) per share	$	(0.13	)	$	0.02	$	(0.19	)	$	0.02
Total diluted earnings (loss) per share	$	(0.13	)	$	0.02	$	(0.19	)	$	0.02

Weighted average options to purchase 25,000 shares for both the three and six month periods ending June 30, 2020 and weighted average options to purchase 35,422 and 30,240 shares for the three and six months ending June 30, 2019, respectively, were excluded from the computation of diluted earnings per share for the periods then ended because the options were anti-dilutive.