Note 5 - (Loss) Earnings Per Common Share

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

5.

    (Loss) Earnings Per Common Share

We are authorized to issue

750,000,000

shares of common stock,

$0.25

par value per share. At

March 

31,

2019,

there were

488,214,543

shares of our common stock issued and

5,226,791

shares issued and held in treasury, for a net of

482,987,752

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

0.05

) and

$0.02

for the

three

-month periods ended

March 

31,

2019

and

2018,

respectively.

Diluted (loss) earnings per share for the

three

months ended

March 

31,

2019

and

2018

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,

2019,

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

no

effect on the calculation of loss per share. For the

three

-month period ended

March 

31,

2018,

1,092,307

restricted stock units that were unvested during the quarter and

1,509,159

in deferred shares were included in the calculation of diluted earnings per share, and there were an additional

539,204

unvested restricted stock units and

212,602

deferred shares which were

not

dilutive.