Note H - Net Income Per Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

H

:

NET INCOME PER

SHARE

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive stock options. The computation of diluted earnings per share does

not

assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on earnings per share. The computations of basic and diluted earnings per share were as follows:

	Three Months Ended
	March 31,
	2020			2019
	(in thousands, except per share data)
Net (loss)/income	$	(1,304	)	$	8,301
Basic weighted average common shares outstanding		5,746			5,921
Dilutive effect of common stock equivalents		-			64
Diluted weighted average common shares outstanding		5,746			5,985
Basic (loss)/earnings per share	$	(0.23	)	$	1.40
Diluted (loss)/earnings per share	$	(0.23	)	$	1.39