Earnings Per Share

9 Months Ended

Sep. 30, 2024

Notes

Earnings Per Share

(8) Earnings Per Share. Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 3rd quarter 2024.

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

(in thousands)	Three months ended		Nine months ended
	September 30,		September 30,
	2024	2023	2024	2023
Numerator
Net income	3,563	3,935	10,972	12,349
Denominator
Weighted average shares, basic	3,478	3,629	3,542	3,629
Dilutive effect of stock options	-	10	-	9
Diluted shares	3,478	3,639	3,542	3,638
Earnings per share, basic	1.02	1.08	3.10	3.40
Earnings per share, diluted	1.02	1.08	3.10	3.39