Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share

Earnings Per Share

Note 4 – Earnings Per Share

Basic earnings per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding stock options, restricted stock units, and common shares issuable upon conversion of convertible preferred stock using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
	(in thousands, except per share data)
Net income	$	112	$	63	$	254	$	20
Less: Preferred stock dividends		(100)		—		(200)		—
Net income applicable to common stockholders		12		63		54		20
Weighted average common shares outstanding – basic		6,602		6,601		6,602		6,601
Dilutive potential common shares from stock options, restricted stock units, and convertible preferred stock		—		—		—		—
Weighted average common shares outstanding – diluted		6,602		6,601		6,602		6,601
Earnings per common share, basic	$	0.00	$	0.01	$	0.01	$	0.00
Earnings per common share, diluted	$	0.00	$	0.01	$	0.01	$	0.00
Shares subject to anti-dilutive stock options and restricted stock units excluded from calculation		—		—		—		—
Shares subject to anti-dilutive Series A Convertible Preferred Stock excluded from calculation		400		—		400		—