Earnings Per Share

3 Months Ended

Mar. 31, 2023

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
	March 31,
	2023		2022
	(in thousands, except per share data)
Net income (loss)	$	(191)	$	142
Less: Preferred stock dividends		(100)		(100)
Net income (loss) applicable to common stockholders	$	(291)	$	42
Weighted average common shares outstanding – basic		6,610		6,602
Dilutive potential common shares from convertible preferred stock		—		—
Weighted average common shares outstanding – diluted		6,610		6,602
Earnings (loss) per common share, basic	$	(0.04)	$	0.01
Earnings (loss) per common share, diluted	$	(0.04)	$	0.01
Shares subject to anti-dilutive Series A Convertible Preferred Stock excluded from calculation		400		400