Note 5 - Earnings (Loss) Per Common Share

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

5.

    Earnings (Loss) Per Common Share

We are authorized to issue

500,000,000

shares of common stock,

$0.25

par value per share. At

March

 

31,

2017,

there were

399,911,009

shares of our common stock issued and

4,085,599

shares issued and held in treasury, for a net of

395,825,410

shares outstanding.

Diluted income (loss) per share for the

three

months ended

March

 

31,

2017

and

2016

excludes the potential effects of outstanding shares of our convertible preferred stock, as their conversion would have no effect on the calculation of dilutive shares.

For the

three

months ended

March

 

31,

2017,

2,735,569

restricted stock units that were unvested during the quarter and

727,262

in deferred shares were included in the calculation of diluted earnings (loss) per share. For the

three

-month period ended

March

 

31,

2016,

all outstanding restricted share units and warrants were excluded from the computation of diluted earnings (loss) per share, as our reported net loss for that period would cause their vesting and exercise to have no effect on the calculation of earnings (loss) per share. There were

no

warrants outstanding during the

three

months ended

March

 

31,

2017.