Earnings Per Common Share

6 Months Ended

Jun. 30, 2024

Earnings Per Common Share

Earnings Per Common Share

4.    Earnings Per Common Share

Basic earnings per share include only the weighted average common shares outstanding. Diluted earnings per share include the weighted average common shares outstanding and any potentially dilutive common stock equivalent shares in the calculation. Treasury shares are excluded for earnings per share purposes. For the three-month periods ending June 30, 2024 and 2023, options to purchase 214,000 common shares, with an exercise price of $2.96 to $4.22, and options to purchase 292,500 common shares, with an exercise price of $2.96 to $4.22, respectively, were outstanding but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive. For the six-month periods ending June 30, 2024 and 2023, options to purchase 214,000 common shares, with an exercise price of $2.96 to $4.22, and options to purchase 172,000 common shares, with an exercise price of $3.83 to $4.22, respectively, were outstanding but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive.

	Three months ended				Six months ended
	June 30,				June 30,
	2024		2023		2024		2023
	(In thousands, except per share data)
Numerator:
Net income (loss)	$	(375)	$	(187)	$	1,529	$	1,328
Denominator:
Weighted average common shares outstanding (basic)		17,030		17,147		17,089		17,139
Effect of stock options		—		—		—		9
Weighted average common shares outstanding (diluted)		17,030		17,147		17,089		17,148
Earnings per common share:
Basic	$	(0.02)	$	(0.01)	$	0.09	$	0.08
Diluted		(0.02)		(0.01)		0.09		0.08