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Note 5 - Income (Loss) Per Common Share
9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 5.    Income (Loss) Per Common Share

 

We are authorized to issue 750,000,000 shares of common stock, $0.25 par value per share. At September 30, 2020, there were 537,655,291 shares of our common stock issued with 6,821,044 of those shares held in treasury, for a net of 530,834,247 shares outstanding. Basic and diluted income (loss) per common share, after preferred dividends, was $0.03 and $(0.04) for the three-month periods ended September 30, 2020 and 2019, respectively. Basic and diluted loss per common share, after preferred dividends, was $(0.03) and $(0.19) for the nine-month periods ended September 30, 2020 and 2019, respectively.

 

Diluted income (loss) per share for the three and nine months ended September 30, 2020 and 2019 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 period ended September 30, 2020, the calculation of diluted income per common share included (i) 2,499,956 restricted stock units that were unvested during the period, (ii) 1,454,246 warrants to purchase one share of common stock and (iii) 1,996,112 deferred shares that were dilutive. For the three-month period ended September 30, 2019 and nine-month periods ended September 30, 2020 and 2019, all restricted share units, deferred shares and warrants were excluded from the computation of diluted loss per share, as our reported loss for those periods would cause their conversion and exercise to have no effect on the calculation of loss per share.