Note 9 - Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

9. Net Income (Loss) Per Share

The calculations of net income (loss) per share were: 

	Year Ended December 31,
	2022			2021
	(In thousands, except per share data)
Basic:
Net income (loss)	$	(14,263	)	$	27,004
Weighted average common shares outstanding		16,337			19,827
Net income (loss) per share	$	(0.87	)	$	1.36
Diluted:
Net income (loss)	$	(14,263	)	$	27,004
Weighted average common shares outstanding		16,337			19,827
Net income (loss) per share	$	(0.87	)	$	1.36

Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs).

If an equity method company has dilutive stock options, unvested restricted stock, DSUs, or warrants, diluted net income (loss) per share is computed by first deducting from net income (loss) the income attributable to the potential exercise of the dilutive securities of the company from net income (loss). Any impact is shown as an adjustment to net income (loss) for purposes of calculating diluted net income (loss) per share.

Diluted income (loss) per share for the years ended December 31, 2022 and 2021 do not reflect the following potential shares of common stock that would have an anti-dilutive effect or have unsatisfied performance or market conditions:

• At December 31, 2022 and 2021, options to purchase 18 thousand and 29 thousand shares of common stock, respectively, at prices ranging from $10.37 to $17.11 per share, and $10.37 to $17.11 per share per share, respectively, were excluded from the calculation.

• At December 31, 2022 and 2021, unvested restricted stock, performance-based stock units and DSUs convertible into 0.2 million and 0.2 million shares of stock, respectively, were excluded from the calculations.