Note 6 - (Loss) Earnings Per Common Share

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

6.

    (Loss) 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,

2018,

there were

485,136,257

shares of our common stock issued and

5,226,791

shares issued and held in treasury, for a net of

479,909,466

shares outstanding. Basic and diluted loss per common share, after preferred dividends, was $(

0.05

) and $(

0.01

) for the

three

- and

nine

-month periods ended

September 

30,

2018,

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

$0.00

and

$0.00

for the

three

- and

nine

-month periods ended

September 

30,

2017,

respectively.

Diluted (loss) income per share for the

three

and

nine

months ended

September 

30,

2018

and

2017

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,

2018,

all restricted share units, deferred shares and warrants were excluded from the computation of diluted loss per share, as our reported loss for that period would cause them to have

no

effect on the calculation of loss per share. For the

three

-month and

nine

-month periods ended

September 

30,

2017,

the calculation of diluted income per share included dilutive (i) restricted stock units that were unvested or which vested in the respective period of

901,047

and

1,857,555,

respectively, and (ii) deferred shares of

1,509,159

for each period. There were

no

warrants outstanding during the

three

-month and

nine

-month periods ended

September 

30,

2017.