Note 5 - Earnings Per Common Share

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

5.

    Earnings Per Common Share

We are authorized to issue

750,000,000

shares of common stock,

$0.25

par value per share. At

September

 

30,

2017,

there were

403,548,158

shares of our common stock issued and

4,529,450

shares issued and held in treasury, for a net of

399,018,708

shares outstanding. Basic and diluted income per common share, after preferred dividends, was

$0.00

and

$0.01

for the

three

- and

nine

-month periods ended

September 

30,

2017,

respectively. Basic and diluted income per common share, after preferred dividends, was

$0.07

and

$0.13

for the

three

- and

nine

-month periods ended

September 

30,

2016,

respectively.

Diluted income per share for the

three

and

nine

months ended

September

 

30,

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

-month and

nine

-month periods ended

September

 

30,

2017,

3,591,697

restricted stock units that were unvested or which vested in the current period and

1,509,159

deferred shares were included in the calculation of diluted income per share. For the

three

-month and

nine

-month periods ended

September 

30,

2016,

4,309,440

restricted stock units that were unvested or which vested in the current period and

635,602

deferred shares were included in the calculation of diluted income per share. There were

no

options or warrants outstanding as of

September 

30,

2017

or

September 

30,

2016.