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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2024
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 9 – 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,

2024

 

 

June 30,

2023

 

 

June 30,

2024

 

 

June 30,

2023

 

(in thousands except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic and diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$(797)

 

$300

 

 

$(1,604)

 

$395

 

Denominator for basic earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

 

9,104

 

 

 

8,904

 

 

 

9,063

 

 

 

8,861

 

Employee stock options and awards

 

 

-

 

 

 

171

 

 

 

-

 

 

 

191

 

Denominator for diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted weighted-average shares & assumed conversions of stock options

 

 

9,104

 

 

 

9,075

 

 

 

9,063

 

 

 

9,052

 

Basic and diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

 

$(0.09)

 

$0.03

 

 

$(0.18)

 

$0.04

 

Diluted earnings (loss) per share

 

$(0.09)

 

$0.03

 

 

$(0.18)

 

$0.04

 

 

The weighted average number of shares outstanding used to compute earnings (loss) per share included the following:

 

 

 

 Three Months Ended

 

 

 Six Months Ended

 

 

 

June 30,

2024

 

 

June 30,

2023

 

 

June 30,

2024

 

 

June 30,

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted Stock Units

 

 

91,729

 

 

 

169,990

 

 

 

110,706

 

 

 

195,204

 

Performance Stock Units

 

 

8,098

 

 

 

232

 

 

 

5,784

 

 

 

96

 

Stock Options

 

 

161

 

 

 

237

 

 

 

168

 

 

 

236

 

 

Options to purchase 12,500 and 12,500 shares, respectively, were outstanding as of June 30, 2024 and 2023, but were excluded from the computation of diluted earnings per share for the periods then ended because the options were anti-dilutive.