Earnings Per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share

Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
	(in thousands, except per share data)
Net income	$	223	$	65	$	243	$	60
Weighted average outstanding shares of common stock		6,602		6,601		6,601		6,581
Dilutive potential common shares from stock options and restricted stock units		—		—		—		17
Common stock and common stock equivalents		6,602		6,601		6,601		6,598
Earnings per share, basic and diluted	$	0.03	$	0.01	$	0.04	$	0.01
Shares subject to anti-dilutive stock options and restricted stock-based awards excluded from calculation		—		2		—		2